Market bleeds further as investors lose N84.bn
The NSE All Share Index (ASI) lost 245.34 points to close at 28,488.56 points compared to 71.55 points lost on Monday to close at 28,733.90 points, as its year-to-date returns closed at -0.54 per cent loss even as Market Capitalisation also dropped by N84.3 billion to close at N9.784 trillion against a loss of N24.6 billion recorded on Monday to close at N9.868 trillion.
Oando’s led 26 losers of the day as it dropped 9.70 per cent or 64 kobo to close at N5.96 per share. Analysts said this loss suffered by the stock may be a reaction of investors to the profit warning it gave yesterday. Tiger Branded Consumer Goods Plc fell by 5 per cent or 21 kobo to close at N3.99 per share, while Wapco Plc lost 5 per cent or N3.16 to close at N60.06 per share.
Other major losers of the day were May and Baker Pharmaceuticals Plc which depreciated by 5 per cent or 6 kobo to close at N1.14 per share while Livestock Feed Plc dropped 4.90 per cent or 5 kobo to close at 97 kobo per share.
On the flip side, Skye Bank led the day’s seven gainers as it added 9.09 per cent or 6 kobo to close at 72 kobo per share, AIICO Insurance Plc appreciated by 4.11 per cent or 3 kobo to close at 76 kobo per share, while UACN Plc added 1.99 percent or 40 kobo to close at N20.50 per share. Ikeja Hotel Plc also appreciated by 1.61 per cent or 3 kobo to close at N1.89 per share and Nigerian Breweries Plc was marked up by 1.47 per cent or N1.96 to close at N135.04 per share.
Investors traded a total of 242 million shares valued at N1.6 billion in 3,684 deals in contrast to 315.6 million shares worth N1.7 billion exchanged in 3,976 deals on Monday.
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