Stock exchange market indices down by 0.01 per cent

The crucial market indicators of the Nigerian Stock Exchange (NSE) on Tuesday maintained negative slide, dropping by 0.01 per cent.

Specifically, the All-Share Index dipped 3.67 points or 0.01 per cent to close at 29,158.57 compared with 29,162.24 achieved on Monday.

Similarly, the market capitalisation, which opened at N10.953 trillion, shed N1 billion to close at N10.952 trillion.

Analysts at Afrinvest Limited, said: “Following the mild improvement in trading session relative to the prior session, we do not rule out the possibility of a positive performance trading session buoyed by the improving investor sentiment.”

“However, we advise investors to remain cautious, while seeking for opportunities, as we maintain our bearish outlook over the near term,” they said.

An analysis of the price movement table showed that NASCON recorded the highest loss, dropping by 95k to close at N19.05 per share.

Ecobank Transnational trailed with a loss of 75k to close at N10.50, while Dangote Cement dipped 50k to close at N185 per share.

Dangote Sugar lost 30k to close at N13.45, while NEM Insurance was down by 23k to close at N2.10 per share.

On the other hand, Stanbic IBTC led the gainers’ table, increasing by N2.80 to close at N46 per share.

Guaranty Trust Bank followed with a gain of N2.45 to close at N34, while Nigerian Breweries gained 20k to close at N60.20 per share.

Access Bank added 10k to close at N5.70, while May and Baker grew by 8k to close at N2.38 per share.

Sterling Bank dominated trading activities, accounting for 119.72 million shares worth N311.31 million.

Chams followed with an exchange of 50.23 million shares valued at N14.06 million, while FBN Holdings traded 44.59 million shares worth N323.14 million.

United Bank for Africa traded 26.93 million shares valued at N161.94 million, while Guaranty Trust Bank sold 24.07 million shares worth N787.99 million.

In all, a total of 374.03 million shares valued at N3.06 billion was transacted by investors in 3,634 deals.

This was against the 455.88 million shares worth N5.26 billion achieved in 3,993 deals on Monday.

Credit: NAN