Investors Lose N82bn In 0.61% Dip In Stocks

By InsideBusiness Last updated Sep 19, 2020

By UMORU ABDULKADIR

Trading on the Nigerian Stock Exchange (NSE) on Tuesday closed on a negative note to extend the negative trend that started yesterday, as both the All-Share Index (ASI) and Market Capitalisation dipped 0.61 per cent respectively.

The ASI declined by 167.28 basis points or 0.61 per cent to close lower at 27, 407.04 points as against the 27,574/32 achieved on Monday.

Also, the market capitalisation depreciated by N82 billion or 0.61 per cent to close trading day at N13.341 trillion in contrast with the N13.423 trillion recorded the previous trading session.

At the end of the day’s trading, the price movement chart showed that Airtel Africa again led the losers’ chart when it declined by N31.50 to finish today’s trading session at N283.50 per share. Flour Mill followed with a 50 kobo depreciation to close at N13.50 per share, NCR Nigeria declined by 45 kobo to close at N4.50 for a share unit While Zenith Bank dropped 30 kobo to finish at N18.80 per share, Custodian Insurance also shed 30 kobo to close at N6.00 per share, among others.

Conversely, Stanbic IBTC Holdings inched up 235 kobo to lead the gainers’ chart. Okomu Oil followed with 205 kobo gain to finish at N54.85 while PZ Cussons appreciated by 55 kobo to finish at N6.45, Cement Company of Northern Nigeria and National Salt Company of Nigeria went up by 45 kobo each to close at N16.60 and N13.40 per share respectively.

Access Bank had the highest stocks turnover when it exchanged 57.8 million shares worth N434.2 million to lead the activity chart. Zenith Bank followed with a turnover of 19.9 million shares valued at N382.2 million, while Sterling, FBN Holdings and United Bank for Africa sold 10.3 million , 10.35 million and 9.3 million shares worth N23.4 million, N55.9 million and N59.7 million respectively to boost the market by both volume and value.

Equally, the volume and value of total trade went down by 28.98 and 0.25 per cent respectively, as investors traded 198.03 million shares valued at N2.898 billion in 3,830 deals as against the 271.24 million units of Shares worth N2.905 billion sold in 4,795 deals on Monday.