Stock market sheds N190 bn as bears return

Transactions on the floor of Nigerian Stock Exchange returned back to downward trend, dropping by N190 billion.
Specifically, Market Capitalisation of listed equities fell by 1.48 per cent to N12.563 trillion from N12.753 trillion reported the previous day.
Also the NSE All Share Index declined by 519.31 basis points to 34414.37 points from 34933.68 traded the previous day.
Investors traded 200.278 milliin shares worth N2.162 billion in 3224 deals against 240.460 million shares worth N3.605 billion in 3400 deals.
A review of the trading activities during the day showed that Forte Oil recorded the highest gain for the day, gaining N1.00 to close at N20.00, International Breweries followed with a gain of N1.00 to close at N33.00, Nigerian Breweries appreciated by N0.50 kobo to close at N93.50 kobo, C &I Leasing gained N0.27 kobo to close at N2.99 kobo while Oando Plc added N0.10 kobo to close at N5.30 kobo.
Conversely, Seplat Petroluem Development topped losers chart, dropping by N47.00 to close at N603.00, Dangote Cement trailed with a loss of N7.00 to close at N223.00, Stanbic IBTC fell by N1.00 to close at N47.00, Flour Mills Nigeria Plc down by N0.80 kobo to close at N21.20 kobo, Ecobank Transnational Incorporated depreciated by N0.45 kobo to close at N19.55 kobo.
The result further showed that United Bank for Africa was the most active stock during the day, exchanging 22.483 million shares worth N180.351 million, Stanbic IBTC followed with account of 19.234 million shares valued at N904.224 million, FCMB Group traded 19.129 million shares worth N34.928 million,Skye Bank Plc sold 18.553 million shares valued at M9.672 million while AIICO Insurance sold a total of 15.231 million shares valued at N14.369 million.

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