Stock market loses N74bn

on the floor of Nigerian Stock Exchange yesterday continued in declining trend, dropping by N74 billion. 

Specifically market capitalisation of listed equities declined to N12.839 trillion from N12.851 trillion traded on Monday. 

The NSE All Share Index also dipped by 151.69 basis points  to 26375.35 points from 26401.06 reported the previous day.  Investors traded 304.279 million shares worth N3.993 billion in 3091 deals against 368.179 million shares valued at N2.769 billion in 3473 deals.

An analysis of the transactions showed that Stanbic IBTC led gainers table, growing by N2.00 to close at N39.00, Ecobank Transnational Incorporated followed with a gain of N0.50 kobo to close at N7.00, Zenith Bank Plc added N0.20 kobo to close at N17.35 kobo, Access Bank increased by N0.20 kobo to close at N17.35 kobo, Access Bank Plc added N0.20 kobo to close at N8.30 kobo. FBNHoldings gained N0.20 kobo to close at N5.50 kobo.

On the contrary, Nestle Nigeria Plc recorded the highest loss during the day, shedding N49.90 kobo to close at N1150.00, MTN Nigeria Plc trailed with a loss of N1.55 kobo to close at N124.00, Guinness Nigeria Plc down by N0.55 kobo to close at N23.30 kobo, UAC Property fell by N0.10 kobo to close at N0.97 kobo while Honey Well flour Mills dropped by N0.06 kobo to close at N0.98 kobo.

 The result showed Law Union and Rock Plc was the most active during the day accounting for 70.397 million shares valued at N29.571 million, United Bank for Africa followed with account of 51.830 million shares worth N335.444 million, Zenith Bank trade.

50.428 million shares valued at N877.045 million, Guaranty Trust Bank sold  26.018 million shares cost N678.026 million, Guinness Nigeria Plc traded 18.823 million shares worth N438.575 million

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