NSE: Stock Market Opens 2017 With 0.96% Loss

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) resumed for its first 2017 trading day on Tuesday recording a loss of 0.96 percent.

Also, investors on the floor of the NSE lost about N89 billion.

The decline at the market on Tuesday, Business Post gathered, might have been caused by the low turnout of stock brokers and other operators.

A total of 18 equities depreciated at the market on Tuesday against 13 stocks that recorded gain and four that stayed flat.

Investors traded a total of 3.4 billion shares in 2,033 deals valued at N3.8 billion compared with 157 million shares sold in the last trading day of 2016 at N157 million in 1,714 deals.

Stanbic IBTC led the gainers’ chart with an appreciation of 74k to close at N15.69k per share, UAC Prop rose by 13k to finish at N2.75k per share, while UACN chalked up 9k to end at N16.90k per share.

Also, UCAP grew by 8k to finish at N2.81k per share, while First Bank grabbed 5k to close at N3.40k per share.

Conversely, Nigerian Breweries lost N5.99k to end at N142 per share, while Beta Glass declined by N1.32k to finish at N29 per share.

Likewise, GTBank fell by 70k to close at N24 per share, Cadbury depreciated by 51k to finish at N9.78k per share and ETI slumped by 51k to end at N9.77k per share.

Looking at the market indicators, the all-share index closed at 26,616.89 points after shedding 257.73 points, while the market capitalisation dropped N89 billion to end at 9.16 trillion.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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