Value of equities drop by N30bn

Volume of transactions on the floor of Nigerian Stock Exchange (NSE) yesterday declined by 35.92 per cent. The NSE trading result showed that volume of activities went down by 105.851 million as investors  traded 188.772 million shares worthN3.717 billion in 3363 deals. 

This is against 394.623 million shares cost N3.218 billion exchanged hands in 4034 deals.

 Market Capitalisation of listed equities also depreciated by N30 billion or 0.21 per cent to N14.258 trillion from N14.288 trillion reported the previous day. 

The NSE All Share Index also depreciated to 29256.60 points from 29318.02 points recorded on Monday.

Capital market operators said that lack of positive statement by the government on policy agenda on how to stimulate the growth in the economy contributed to investors low confidence. They pointed out that delay in appointment of new cabinet is becoming worrisome especially now we have entered the second half of the year into the implementation of 2019 budget.

They further said some investors are waiting for quoted companies half year score card to know where to invest money to have good return on their investment at the end of financial year.

An analysis of the investment for the day showed that MTN Nigeria Communications Plc led gainers table during the day, appreciating by N3.95 kobo to close at N133.00, Guaranty Trust Bank followed with a gain of N1.05 kobo to close at N29.05 kobo, Unilever Nigeria Plc added N1.00 to close at N33.00, Union Bank of Nigeria Plc gained N0.65 kobo to close at N7.50 kobo while Ecobank Transnational Incorporated increased by N0.40 kobo to close at N9.90 kobo.

On the contrary, Airtel Africa Plc recorded the hoghest loss during the day, shedding N39.9 kobo to close at N359.40 kobo, Forte Oil trailed with a loss of N2.30 kobo to close at N20.70 kobo, Conoil Plc down by N2.20kobo to close at N19.95 kobo, Dangote Cement Industry sheds N1.20 kobo to close at N173.50 kobo, Nahco declined by N0.29 kobo to close at N2.66 kobo.

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