Nigerian Breweries Leads Losers As Equities Drop N72.78bn
The Nigerian Exchange Limited (NGX) for the second consecutive trading session in the week, closed negative with key market indices in the red on Tuesday.
The NGX All-share Index (ASI) lost 135 index points or 0.25 per cent to settle at 53,637.14 basis points compared to 53,772.14 basis points recorded on Monday.
Significantly, the market capitalization of all listed equities on the NGX depreciated by N72.78 billion, representing a 0.25 per cent decline to settle at N28.92 trillion down from N28.99 trillion reported the previous trading session.
The laggard stock market was buoyed by the losses recorded by large and small scale companies. Amongst them are; Nigerian Breweries Plc, Northern Nigeria Flour Mills Plc, Japaul Gold Plc, Prestige Assurance Plc and Multiverse Plc.
The market turnover decreased by 98.8 per cent as investors bought and sold a total of 318.27 million shares worth N3.713 billion in 5,190 deals compared to 27.564 billion shares valued at N194. 356 billion in 4,586 deals traded the previous session.
Amid the decline of the Nigerian bourse, the market breadth was positive with 20 stocks appreciating and 17 losers as against 25 gainers and 17 laggards on Monday.
The losers table was led in percentage terms by Nigerian Breweries Plc, as the brewing firm dipped 9.96 per cent to close at N62. 40 kobo per share.
In the same vein, Northern Nigeria Flour Mills plc fell by 9.83 per cent to settle at N10.55 kobo per share, while Japaul Gold Plc lost 9.09 per cent to close at N0.30 kobo per share.
Underwriting firm, Prestige Assurance Plc shed 6.98 per cent to settle at N0. 40 kobo per share, while Multiverse Plc declined by 4.76 per cent to close at N0. 20 kobo per share.
Conversely, the gainers’ table was dominated in percentage parameters by Transcorp Hotels Plc, as the hospitality firm rose 6.84 per cent to close at N6.25 kobo per share.
Champions Breweries Plc and CWG Plc appreciated by 5.05 per cent to close at N3. 95 kobo and N1.40 kobo per share respectively.
Also, Ecobank Transnational Incorporated (ETI) Plc jumped 5.04 per cent to close at N12.50 kobo per share, while Lasaco Assurance Plc appreciated by 4.81 per cent to settle at N1. 09 kobo per share.
A cursory look at the NGX market activity chart reveals that Transnational Corporation Plc closed trading as the most active and valuable equity, as the lender transacted a total of 86.74 million units of shares worth N111.73 million.
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