Stock market trends lower, sheds N126bn




Trading activities on the floor of Nigerian Exchange (NGX) yesterday opened on a negative note, shedding N126 billion, despite the inflow of companies half year results and interim dividend declared within the period.

Operators attributed the decline in share price on profit taking embarked by investors during the day.

Specifically, Market Capitalisation of listed equities declined by 0.62 per cent to N20.094 trillion from N20.220 trillion traded the previous day.

The NGX All Share Index also depreciated by 243.49 basis points to 38567.26 points from 38810.75 points traded the previous day.

Investors traded 194.949 million shares valued at N1.014 billion in 3830 deals against 167.778 million shares valued at N1.663 billion in 3267 deals.

An analysis of the investment during the day showed that Conoil Plc led gainers table during the day, gaining 9.83 per cent to close at N22.35 kobo, Northern Nigeria Flour Mills followed with a gain of 9.78 per cent to N6.75 kobo, Skyways Aviation gained 9.18 per cent to close at N3.45 kobo, Academy Press increased by 7.89 per cent to N0.41 kobo while SUNU Assurance added 4.44 per cent to close at N0.47 kobo.

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