Equity market nosedives, loses N136bn

Trading activities on the floor of Nigerian Stock Exchange (NSE)  sustained volatility Tuesday, shedding N136 billion at the close of transactions.

Market capitalisation of listed equities declined further by 1.22 per cent to N11.094 trillion from N11.176 trillion reported the previous day.

The NSE All Share index down by 361.32 basis pounts to  29521.06 points from N27740.41 point traded on Friday. 

Investor traded 290.189 million shares worth N2.164 billion in 4302 deals against 290.189 million shares valued at N2.164 billion in 4302 deals.

An analysis of the investment for the day showed that Forte Oil led gainers table, improving by N2.90 kobo to close at N32.10 kobo, Julius Berger followed with a gain of N2.20 kobo to close at N24.70 kobo, Dangote Flour Mills Nigeria Plc added N1.55 kobo to close at N17.10 kobo, Okomu Oil Palm gained N0.50 kobo to close at N72.50 kobo Cadbury Nigeria Plc increased by N0.45 kobo to close at N11.80 kobo.

On the contrary, Total Nigeria Plc recorded the highest loss during the day, dropping by N15.90 kobo to close at N166.10 kobo, Stanbic IBTC trailed with a loss of N1.90 kobo to close at N45.10 kobo, Cement Company of Northern Nigeria fell by N1.65 kobo to close at N15.35 kobo, Dangote Cement dropped by N0.90 kobo to close at N186.00, Guaranty Trust Bank sheds N0.75 kobo to close at N33.45 kobo.

The result further showed that Japual Oil and Maritime recorded the highest volume of activities during the day, exchanging 60.418 million shares worth N17.975 million, Caverton followed with account of 46.903 million shares valued at N125.320 million, UAC of Nigeria sold 41.050 million shares cost N285.973 million, Access Bank exchanged 17.248 million shares cost N115.458 million while FBNHoldings traded 14.168 million shares worth N102.965 million.

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