Market continues bleeding, dips by 0.89%
Equities trading on the Nigerian Stock Exchange (NSE) continued on a bearish note on Tuesday as investor’s value dipped as investors suffered value depreciation of N91 billion.
The market indicators recorded 0.89 per cent depreciation compared with the decline of 2.63 percent recorded on Monday. The All-Share Index shed 264.99 points to settle at 29,575.24 points while market capitalisation shed N91 billion to close at N10.157 trillion compared to N10.248 trillion it closed on Monday, leaving the NSE’s Year-to-Date (YTD) returns at 3.26 per cent.
Market recorded 15 gainers against 34 losers. Redstar Express Plc led the gainers chart with 9.90 percent or 39 kobo gain to close at N4.33 per share; Neimeth Pharmaceuticals followed with a gain of 9.17 per cent or 10 kobo to close at N1.19 per share while Julius Berger added 5 per cent or N2.31 per share. Law Union Plc and Union Dicon equally recorded gains.
Transcorp Plc on the other hand lost 9.05 per cent or 18 kobo as it closed at N1.81 per share; FBN Holdings Plc was marked down by 5.93 per cent or 24 kobo to close at N3.81 per share; Oando Plc closed at N6.27 as it lost 38 kobo representing 5.71 per cent loss.
Total Oil Plc depreciated by N10.00 or five per cent and from its opening value of N200, it closed at N190 per share, while UPL Plc closed at N4.37 having shed 23 kobo or 5 percent of its opening value.
Transcorp Plc, Guaranty Trust Bank Plc, and First Bank of Nigeria Holding Plc were the most active stocks of the day. While Transcorp sold 43.8 million shares worth N79.4 million, Guaranty Trust Bank Plc exchanged 42.8 million shares valued at N961.1 million and First Bank of Nigeria Holding Plc 25.7 sold million shares valued at N100.6 million.
In all, investors exchanged 255.3 million shares worth N3.3 billion in 4,812 deals compared to a total of 375.2 million shares worth N4.03 billion in 4,229 deals exchanged on Monday.
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