Stock market loses N46bn



Transactions on the floor of Nigerian Stock Exchange yesterday closed lower on increased volatility and mixed sentiment, as the value of equities declined by N46 billion.

The market pullback which started on Tuesday according to capital perators was due to profit booking and portfolio alignment ahead of the seasonal trends and expectations.

The NSE trading result showed that

Market Capitalisation of listed equities declined by 0.25 per cent to N18.276 trillion from N18.322 trillion reported on Wednesday.

The NSE All Share Index also depreciated by 87.88 basis points to 34968.94 points from 35056.82 points.

Investors traded 289.394 million shares valued at N7.348 billion in 4878 deals against 368.766 million shares worth N5.490 billion in 4598 deals.

An analysis of the investment revealed that.

MTN Nigeria Communications led gainers table during the day, gaining N1.20 kobo to close at N156.20 kobo, Ardova Plc followed with a gain of N1.00 to close at N14.00, Redstarex gained N0.13 kobo to close at N3.38 kobo, Cutix Plc added N0.10 kobo to close at N1.90 kobo, UPL gained N0.10 kobo to close at N1.47 kobo.

On the contrary, Guaranty Trust Bank topped losers chart, for the day, dropping by N0.50 kobo to close at N33.60 kobo, Flour Mills Nigeria Plc trailed with a loss of N0.50 kobo to close at N26.50 kobo, Cadbury Nigeria Plc added N0.50 kobo to close at N8.70 kobo, Zenith Bank Plc fell by N0.45 kobo to close at N23.55 kobo, United Bank for Africa down by N0.45 kobo to close at N8.20 kobo

The result also indicated that.

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