Tuesday Trading Ends With Market Capitalisation Depreciating

Investors at the Nigerian Capital Market ran into loss on Tuesday as the market capitalisation depreciated further by ₦51 billion.

At the end of eight hours trading, the All-Share Index declined by 95.37 per cent, representing a decrease of 0.20 per cent, to close at 47,156.56 points.

The Tuesday market also saw the market capitalisation value lose ₦51 billion to close at ₦25.415 trillion.

The likes of Nestle Nigeria, Guinness Nigeria, Ecobank Transnational Incorporated (ETI), Oando and Lafarge Africa ran into lose at the market.

Analysts at GTI Securities Limited while reaction to the state of things at the market said: “The stock market continues its losing streak extending the negative trend to four consecutive days, as MPC maintained all parameters, the negative trend is likely to continue pending any significant changes in the economic conditions.”

Trading on Tuesday saw 16 stocks gain, while 29 depreciated in price.

Japaul Gold and Ventures on Tuesday led the losers’ chart by 8.82 per cent to close at 31 kobo.

Champion Breweries followed with a decline of 8.78 per cent to close at ₦1.87, while Oando lost 6.75 per cent to close at ₦4.70 kobo.

AXA Mansard Insurance declined 6.52 per cent to close at ₦2.15, while Regency Alliance Insurance shed 5.26 per cent to close at 36 kobo.

The NPF Microfinance Bank on Tuesday topped the gainer chart with the highest price gain of 9.52 per cent to close at ₦2.53 kobo.

FCMB Group followed with a gain of 7.94 per cent to close at ₦3.67, while Prestige Assurance up by 6.52 per cent to close at 49 kobo.

Chams rose by 4.76 per cent to close at 22 kobo, while UAC of Nigeria (UACN) gained 4.74 per cent to close at 12.15 kobo.

The total volume traded advanced by 42.1 per cent to 303.481 million units, valued at ₦3.903 billion, and exchanged in 4,616 deals.

Transactions in the shares of Access Bank topped the activity chart with 44.151 million shares valued at ₦433.299 million.

United Bank for Africa (UBA) followed with 39.543 million shares worth ₦304.855 million, while Fidelity Bank traded 33.352 million shares valued at ₦103.871 million.

Guaranty Trust Holding Company (GTCO) traded 28.335 million shares valued at ₦737.470 million, while Zenith Bank transacted 28.216 million shares worth ₦758.001 million.

This article was originally published on Nigeria News