Bears return as stock market loses N119bn

Transactions on the floor of Nigerian Stock Exchange (NSE) yesterday returned to volatility, declining by N119 billion, despite juice earnings declared by some quoted companies.
Although some listed companies expected to pay cash dividend in April and May, operators are still optimistic that most local will reinvest  the cash dividend paid to them in the market.


The trading result showed that Market Capitalisation of listed equities declined by  0.58 per cent to N20.544 trillion from N20.663 trillion recorded the previous day. The NSE All Share Index also depreciated by 226.26 basis points to 39267.11 points from 39493.37 points.


Investors traded 336.125 million shares valued at N3.268 billion in 4394 deals against 522.174 million shares cost N10.650 billion 4566 deals.
An analysis of the investment showed that Livestock Feeds led gainers table during the day, increasing by 9.66 per cent or N0.17 kobo to close at N1.93 kobo, Courtville business solution followed with a gain of 9.09 per cent or N0.02 kobo to close at N0.24 kobo, Cornerstone Insurance gained 9.09 per cent or N0.05 kobo to close at N0.60 kobo, NPF Microfinance Bank added 8.33 per cent or N0.15 kobo to close at N1.95 kobo Regalex grew 7.89 per cent or N0.02 kobo to close at N0.28 kobo.


On the contrary, Regal Insurance topped losers chart, dropping by 9.09 per cent or N0.03 kobo to close at N0.30 kobo, Prestige Insurance trailed with a loss of 8.89 per cent or N0.04 kobo to close at N0.14 kobo. Daar Communication fell by 8.00 per cent or N0.02 kobo to close at N0.23 kobo, Sovereign Trust Insurance dipped by 4.17 per cent or N0.01 kobo to close at N0.25 kobo.


The resuly further indicated that United Bank for Africa was the toast of investors during the day, exchanging 78.889 million shares worth N418.139 million, Courtiville followed with account of 43.907 million shares cost N10.532 million, Guaranty Trust Bank traded 28.970 million shares cost N955.080 million, Zenith Bank PLC traded 24.907 million shares valued at N560.465 million while Transnational Corporation of Nigeria exchanged 22.621 million shares cost N17.960 million

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