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Stock Market Records Marginal Loss

Trading activities on the floor of the Nigerian Stock Exchange on Tuesday witnessed another drop in share prices as bears sustained their grip on the local bourse following the sell-off that has pervaded.

However, the market breadth closed positively, recording 20 gainers as against seven losers.

 Consequently, the All-Share Index dipped 11.68 basis points or 0.05 percent to close at 21,729.48 index points as against 21.741.16 recorded the previous day while market capitalization of equities depreciated by N6bn from N11.329tn the previous day to N11.323tn as market sentiment returned to the negative territory.

Meanwhile,  233.5 million shares exchanged in 3,874 deals in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 136.1 million shares exchanged by investors in 1,985 deals.

Volume in the sub-sector was largely driven by activities in the shares of Access Plc and Zenith Bank Plc.

Also, the banking sub-sector received a boost by the activities in the shares of Fidelity Bank Plc and GTBbank Plc followed with a turnover of 64.1 million shares in 903 deals.

Further analysis of the day’s trading showed that in percentage terms Cutix Plc topped the day’s gainers’ table with 10 percent to close at 1.32 per share while Cadbury Nigeria  Plc followed with 9.71 percent to close at N5.65 per share. Neimeth Pharmaceuticals Plc added 9.09 percent to close at 48 kobo per share.

On the flip side, Total Nigeria  Plc led the losers with a drop of 10 percent to close at N96.30 per share while Africa Prudential Registrars Plc shed 9.87 percent to close at N3.47  per share. Jaiz Bank Plc trailed with 8.16 percent to close at 45 kobo per share.


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Written by PH


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