Stock market remains Volatile, loses N16bn

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Activities on the floor of Nigerian Exchange yesterday sustained declining profile , shedding N16 billion, amid slowdown in profit taking and selloffs

Specifically, market Capitalisation of listed equities declined by 0.08 per cent to N19.940 trillion from N19.956 trillion reported the previous day.

The NSE All Share index also depreciated by 30.82 basis points to 38256.76 points from 38287.58 traded on Monday.

Investors traded 250.204 million shares valued at N1.552 billion in 3534 deals against 141.146 million shares valued at N1.094 billion exchanged hands the previous day in 3566 deals.

The NGX daily report shiwed that C&I Leasing led gainers table during the day, gaining 9.85 per cent to N4.46 kobo, Royal.Express followed with a gain of 8.82 per cent to N0.74 kobo, Chi PLC added 7.27 per cent to N0.59 kobo, Neimeth International Pharmaceutical gained 7.02 per cent to N1.83 kobo, Initiates PLC gained 6.82 per cent to N0.43 kobo.

On the contrary, Lasaco Insurance topped losers chart, dropping by 7.14 per cent to N1.43 kobo, Champion Breweries trailed with a loss of 5.66 per cent to N2.00, AIICO Insurance dipped by 4.96 per cent to N1.15 kobo, Chams PLC dipped by 4.76 per cent to N0.20 kobo while Mansard Insurance declined by 4.44 per cent to N0.86 kobo.

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