By Modupe Gbadeyanka
Negative sentiments persisted on Tuesday on the trading floor of the Nigerian Stock Exchange (NSE) as the bearish run was extended with 0.42 percent loss posted at the close of transactions.
The All-Share Index (ASI) shed 151.38 points to close at 36,165.93 points, while the market capitalisation depreciated by N42.1 billion to settle at N12.46 trillion.
Furthermore, the year-to-date return trimmed to 34.57 percent, while the market breadth ended negative with 14 gainers and 16 losers.
Business Post reports that the gainers’ chart was led by Stanbic IBTC, which released its half-year earnings today, adding 50k to its share price to close at N40.50k per share.
GTBank advanced by 30k to end at N39.50k per share, while Champion Breweries moved up by 16k to finish at N2.50k per share.
In addition, Custodian & Allied raked 15k to settle at N3.56k per share, while May & Baker chalked up 13k to close at N2.88k per share.
On the losers’ log, Mobil maintained its number one spot, losing N9.14k today to settle at N173.79k per share.
It was followed by Okomu Oil, which shed N3.45k to close at N65.64k per share, and Dangote Cement, which depreciated by N2.34k to N212.65k per share.
Julius Berger lost N1.79k to finish at N34.20k per share, while Nigerian Breweries declined by N1.41k to end at N183.60k per share.
Business Post further reports that market turnover and volume of transactions declined drastically today with only 144.5 million shares traded by investors in 3,716 deals worth N1.5 billion. This was against 338.7 million shares transacted yesterday by investors in 3,100 deals valued at N2.8 billion.
But the most traded equity at the stock market today was Fidelity Bank, exchanging 23.3 million shares valued at N31.4 million, while Zenith Bank trailed with 18.2 million units sold at N416.4 million.
Furthermore, FCMB transacted 17.3 million shares worth N19 million, Transcorp traded 8.8 million units for N11.4 million, and Access Bank also exchanged 8.8 million shares valued at N88 million.
Though some investors believe the market might rebound tomorrow, activities at the market today suggest the bearish sentiments will continue as investors prepare for the Sallah celebrations on Friday, when the market would be under lock and key.
