NSE: negative sentiments persist, market capitalisation shed N109bn

Negative sentiments persisted on the Nigerian Stock Exchange (NSE) on Tuesday with the market capitalisation shedding further N109 billion, while index dropped to 36,000 mark.

It was reported that the market capitalisation lost N109 billion or 0.81 per cent to close at N13.390 trillion as against N13.499 trillion posted on Monday.

In the same vein, the All-Share Index lost 303.16 points or 0.81 per cent to close lower at 36,963.70 compared to 37,266.86 achieved on Monday.

It was reported that 33 stocks recorded price losses, while 13 posted price appreciation.

Okomu Oil led the losers’ table having lost N7.00 to close at N85 per share.

Stanbic IBTC trailed with a loss of N3.95 to close at N47.55, while International Breweries was down by N3 to close at N37.50 per share.

Lafarge Africa also declined by N3 to close at N34.50, while Julius Berger dipped N2.70 to close at N24.30 per share.

On the other hand, Dangote Cement led the gainers’ table, gaining N3 to close at N230 per share.

Dangote Sugar followed with a gain of 45k to close at N17.95, while Custodian and Allied Insurance gained 19k to close at N5.70 per share.

Flour Mills increased by 10k to close at N30, while Eterna Oil added 10k to close at N6.50 per share.

The volume of shares traded dropped to 203.80 million shares valued at N2.39 billion exchanged in 4,178 deals.

This was in contrast with a turnover of 303.48 million shares worth N2.04 billion transacted in 3,402 deals on Monday.

Transcorp emerged the most active stock during the day, exchanging 20.71 million shares valued at N26.56 million.

Access Bank came second with an account of 19.49 million shares worth N195.42 million, while Zenith International Bank traded 15.42 million shares valued at N368.71 million.

Sovereign Trust Insurance sold 13.30 million shares valued at N3.49 million, while Custodian and Allied Insurance exchanged 12.68 million shares worth N69.38 million.