Stock market sustains volatility, sheds N364bn

Equities transaction on the floor of Nigerian Stock Exchange yesterday had mixed tend and sentiments that reflects selloff, profit taking and repositioning by market players ahead of the end of second quarter and half year earnings reporting seasons.

The market as a result sustained volatility, as the two key market indices declined by 1.81 pee cent.

Specifically, Market Capitalisation of listed equities declined by N364 billion or 1.81 per cent to N19.725 trillion from N20.089 trillion it opened on Monday.

The Nigerian Exchange NGX All Share Index also depreciated by 698.23 basis points to 37847.07 points from 38545.30 points traded the previous day.

Investors exchanged 218.271 million shares valued at N2.725 billion in 3524 deals against 209.212 million shares valued at N1.763 billion in 3390 deals.

An analysis of the investment showed that Fidson Healthcare recorded the highest gain during the day in percentage terms, gaining 10.0 per cent to close at N5.06 kobo, Vitafoam Nigeria Plc followed with a gain of 9.68 per cent to close at N13.60 kobo, Redstarex gained 9.55 per cent to close at N3.67 kobo, Veritas Capital added 9.09 per cent to N0.24 kobo , Courteville Business Solution also increased by 5.00 per cent to close at N0.21 kobo.