Bears return as equity market dips by N393bn

Trading activities on the floor of Nigerian Stock Exchange (NSE) Tuesday returned to negative trend as the NSE two market indicators declined by 1.8 per cent.

Market capitalisation of listed equities depreciated by N393 billion to N21.122 trillion from N21.515 trillion reported the previous day.

The NSE All Share Index also depreciated by 751.25 basis points to 40396.14 points from 41147.39 points traded on Monday.

Investors’ traded 465.673 million shares valued at N5.117 billion in 7573 deals against 211.929 million shares cost N1.407 billion in 3438 deals.

A review of investment during the day showed that Seplat Petroleum Development Company Plc led gainers table during the day, gaining N7.70 kobo to close at N410.00, Boc Gas followed with a gain of N0.93 kobo to close at N10.50 kobo, Africa Prudential added N0.35 kobo to close at M6.75 kobo, Eterna Plc gained N0.35 kobo to close at N5.75 kobo, Vitafoam added N0.20 kobo to close at N8.75 kobo.

Conversely, Buacement Plc recorded the highest loss during the day, declining by N5.00 to close at N80.00, MTN Nigeria Communications Plc trailed with a loss of N4.70 kobo to close at N165.20 kobo, Zenith Bank Plc fell by N1.10 kobo to close at N24.60 kobo, Okomu Oil dipped by N1.00 to close at N90.00, Guaranty Trust Bank declined by N0.95 kobo to close at N32.55 kobo.

The result further showed that Transnational Corporation of Nigeria was the most active stock during the day, exchanging 69.158 million shares valued at N68.815 million, Zenith Bank Plc followed with account of 31.707 million shares cost N788.333 million, FCMB group traded 26.593 million shares valued at N80.208 million, Japaul Gold sold 26.038 million shares cost N19. 268 million, Access Bank sold a total of 24.534 million shares cost N214.569 million.

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