Stock market loses N127bn




Trading activities at the Nigerian Stock Exchange yesterday returned to bearish trend, following the profit takng embarked by investors  as equity market declined by N127 billion.

Specifically, market capitalisation of listed equities depreciated by 0.83 per cent to N15.176 trillion from N15.303 trillion traded on Monday. The NSE All Share index also decreased by 247.80 basis points to 29462.76 points from 29710.56 points reported the previous day.

Investors traded 272.839 million shares valued at N3.713 billion in 4945 deals against 266.947 million shares worth N4.184 billion exchanged hands the previous day in 5052 deals.

A review of the transactions during the day showed that Lafarge Wapco led gainers table, appreciating by N1.00 to close at N17.35 kobo , Nigerian Breweries followed with a gain of N0.90 kobo to close at N52.00, MTN Nigeria Communications Plc gained N0.20 kobo to close at N128.50 kobo, Oando Plc added N0.08 kobo to close at N3.60 kobo while Law Union and Rock Insurance grew by N0.05 kobo to close at N0.60 kobo.

On the contrary, Dangote Cement Plc recorded the highest loss during the day, shedding N2.00 to close at N173.00, Guaranty Trust Bank trailed with a loss of N1.80 kobo to close at N32.20 kobo, Access Bank fell by N0.70 kobo to close at N10.05 kobo, BUA Cement Plc declined by N0.55 kobo to close at N36.45 kobo, Zenith Bank Plc down by N0.40 kobo to close at N22.35 kobo

The trading result for the day showed that Zenith Bank Plc recorded the highest volume of activities, exchanging 57.809 million shares worth N1.306 billion , Access Bank Plc followed with account of 33.001 million shares valued at N340.753 million, United Bank for Africa UBA sold a total of 22.425 million shares cost N193.717 million, Oando Plc traded 18.206 million shares worth N65.589 million and FCMB Plc sold 16.242 million shares valued at N32.327 million.

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