Equities Market Loses N292.53bn In Two Days
The Nigerian equities market closed negative on Tuesday as NSE-ASI lost 0.14 per cent to close at 21,300.47pts.
Tuesday’s trading session produced a negative market breadth index with 11 losers against 9 gainers.
For the last two trading days of March, the Nigerian equities market closed March with N292.53 billion slash in equities market capitalisation.
On Monday , market valued dipped N276.73 billion. The trend continued, as equities capitalisation declined further by N15.804 billion, to close Tuesday at N11, 100,804 trillion.
ZENITHBANK closed trade on Tuesday as the highest loser, with N0.25 or 2.09 per cent decline in share value, to end trade at N11.7 per share. UACN followed with N0.2 or 2.70 per cent loss, closing trade at N7.2 per share, while GUARANTY, as the third highest loser closed trade at N17.7 per share, following decline by N0.2 or 1.12 PER CENT.
WAPCO closed Tuesday as the fourth highest decliner, having dipped by N0.1 or 1.08 per cent, to end trade at N9.2 per share, while ACCESS closed the top five decliners chart at N5.95 per share, following decline by N0.L1 or 1.65 per cent.
The NSE Banking Index declined by 1.12 per cent, on the back of the sell-offs in STERLNBANK which lost 4.17 per cent, ZENITHBANK by -2.09 per cent, ACCESS by -1.65 per cent, FBNH by -1.25 per cent and GUARANTY by -1.12 per cent.
The NSE Industrial Index was down by 0.09 per cent, as a result of the decline in WAPCO by -1.08 per cent. The NSE Consumer Goods Index rose by 0.46 per cent, due to the buy-interests in UNILEVER by +4.76 per cent, FLOURMILL by +2.16 per cent and NB by +0.59 per cent. NSE Oil & Gas Index: Closed flat.
STERLNBANK emerged the most active stock on Tuesday with turnover of 303,455,868million shares, worth
UBA closed as the fourth most active stock with turnover of 14,497,443 million shares, worth N72, 575,963.65 million, while FCMB closed the top five active stocks chart with 9,654,403 million shares, valued N14, 406,830.10 million.
UNILEVER as the best gainer on the last trading session of March, appreciated by N0.5 or 4.76 per cent, to close at N11 per share, followed by FLOURMILL which declined by N0.45 or 2.16 per cent, to end at N21.25 per share, while GLAXOSMITH, as the third best gainer, rose by N0.4 or 10.00 per cent, to close at N4.4 per share.
MAYBAKER, closed at N2.14 per share, following growth by N0.19 or 9.17 per cent, while NEM closed the top five gainers chart at N2.07 per share, having appreciated N0.18 or 9.52 per cent.
The equities market closed down Tuesday due to the losses recorded in Banking and Industrial sector.
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