Stock market sustains bearish run, sheds N101bn



Transaction on the floor of Nigerian Exchange NGX yesterday sustained bearish sentiment, dropping by N101 billion.

Market capitalisation of listed equities yesterday declined by 0.35 per cent to N28.441 trillion from N28.542 trillion reported the previous day.

The NSE All Share Index also depreciated by 187.47 basis points to 52944.09 points from 52756.62 points traded the previous day.

Investors traded 1.323 billion shares valued at N7.724 billion in 6449 deals against 374.183 million shares cost N4.963 billion exchanged hands the previous day.

A review of the investment showed that

PZ Cusson led gainers table during the day, gaining 9.96 per cent to N13.25, Berger Paint followed with a gain of 9.72 per cent to N7.90, Northern Nigeria Flour Mills gained 9.63 per cent to N11.95, Mcnichols added 9.52 per cent to N1.61, Abbey BDS added 9.49 per cent to N1.50.

On the contrary,

Flour Mills Nigeria Plc topped losers chart during the day, dropping by 9.20 per cent to N37.00, Glaxosmith trailed with a drop of 8.39 per cent to N6.55, NPF Micro Finance Bank dropped by 8.02 per cent to N0.30, Japaul Gold dipped by 6.25 per cent to N0.30 while Champion Breweries down by 6.09 per cent to N3.70.