Equities Market Drops N393bn On Second DayTrading
Trading on the floor of the Nigerian equities market was bearish on Tuesday after several days of a massive rally.
The All-share Index (ASI) fell by 1.83 per cent or 751.25 basic point to close at 40,396.14 basic points, as against the 41,147.39 basic points it posted the previous day.
Also, the market capitalisation declined by N393bn or 1.83 per cent to close at N21.122 trillion, compared to N21.515 trillion recorded on Monday.
The depreciation of the market was majorly influenced by losses suffered by capitalized equities like MTN Nigeria, Guaranty Trust Bank, BUA Cement and Zenith Bank.
The market turnover increased by 119 per cent, as investors traded 465.673 million shares worth N5.117 billion in 7,573 deals, compared to 211.929 million shares worth N1.407 billion in 3,438 deals traded the previous day.
The market breadth was marginally negative with 29 losers and 28 gainers, compared to 29 gainers and two losers on Monday.
BUA Cement led the losers ‘table in percentage parameters when it fell 5.88 per cent to close at N80 per share.
On the sane losing note, Zenith Bank and Guaranty Trust Bank dipped by 4.28 and 2.84 per cent to close at N24. 6 and N32.55 per share respectively.
Also, MTN Nigeria shed 2 .77 per cent to close at N165. 2 per share, while Okomu Oil depreciated by 1.10 per cent to close at N90 per share.
Conversely, BOC Gas dominated the gainers’ table in percentage terms, surging by 9.72 per cent to close at N10. 5 per share.
In the same vein, Eternal Plc rose by 6.48 per cent to close at N5.75 per share, while Afri Prudential gained 5.47 per cent to close at N6. 75 per share.
Likewise, Vitafoam and Seplat Petroleum soared by 2.34 and 1.91 per cent to close at N8.75 and N410 per share respectively.
The market activity chart was led in volume ramifications by Transcorp, trading 69.158 million shares worth N64.815 million. Also, Zenith Bank sold 31.707 million worth of shares at N788.333 million.
FCMB followed with 26.593 million shares N80. 208 million. While Japaul Gold traded in 26.038 million shares N19.268 million. Access Bank rounded off the top five activity chart when it traded 24.534 million shares N214.569 million
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