International Breweries, FCMB Lead In NGX’ N27.36bn Loss
The bears edged the bulls on Tuesday as the equities market fell 0.11 per cent on the Nigerian Exchange Limited (NGX).
The All-Share Index (ASI) dropped 50.77 index points or 0.11 per cent to close at 46,843.09 points as against 46,893.86 recorded on Monday.
The market capitalization which measures the total valuation of listed equities on the Nigerian bourse hence depreciated by N27.36 billion, representing a 0.11 per cent loss to stand at N25.24 trillion down from the previous value of N25.27 trillion.
The loss of market indices was triggered by a decline in the equity value of large and medium scale firms like International Breweries Plc, Veritas Kapital Plc, FTN Cocoa Plc, Fidelity Bank Plc and Chams Plc.
The market turnover decreased by 40.4 per cent as investors bought and sold a total of 214.33 million units of shares worth N1.79 billion in 4,125 deals as against 359.89 million units of shares valued at N2,61 billion in 5,163 deals traded the previous trading session.
The market breadth returned negative with eighteen laggard equities compared to sixteen stocks recording appreciations.
The losers’ chart was led in percentage parameters by International Breweries Plc, as the brewing giant lost 10 per cent to close at N4.50 kobo per share.
Also, Veritas Kapital Plc fell 8.70 per cent to close at N0. 21 kobos per share, while FTN Cocoa Plc declined by 5.71 per cent to close at N0.33 kobo per share.
In the same vein, the value of
Fidelity Bank Plc and Chams Plc depreciated by 4.88 per cent and 4.76 per cent to close at N3.12 kobo and N0. 20 kobos per share respectively.
PZ Cussons Plc was the biggest gainer on the NGX in percentage terms, as the consumer goods firm rose 9.80 per cent to close at N11. 20 kobo per share.
Japaul Gold Plc and First City Monument Bank (FCMB) appreciated by 9.68 per cent and 9.32 per cent to close at N34 kobo and N3.40 kobo per share respectively.
Similarly, Consolidated Hallmark Insurance (CHI) Plc climbed 4.92 per cent to close at N0. 64 kobo per share, while NPF Micro Finance Plc gained 3.81 per cent to close at N2. 45 kobo per share.
Chams Plc closed the market as the most active stock, trading 30.40 million units of shares worth N6.08 million while Access Bank Holdings Plc was the most valuable company at 30.295 million units of shares worth N305.50 million.
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