Equities value trims by N62bn as 7Up tops gainers

The benchmark indices of the Nigerian Stock Exchange on Tuesday closed negative with the equities value shedding N62 billion as sell-off persists.

The Nigerian Stock Exchange building in Lagos

Specifically, the Market Capitalization which commenced trading at N9.808 trillion lost 0.64 percent to close at N9, 746 trillion.

The All-Share Index also shed 181.53 basis points to close at 28,351.28 as against 28,532.81 points recorded on Monday.

Checks on the trading statistics showed that 24 stocks recorded lost as against 14 others on the gainers table.

Guinness Nigerian Plc led on the losers table with a loss of N6.74 or 4.99 percent to close at N128.24 per share.

It was trailed by Seplat Plc with N4.00 or 1.74 percent to close at N226.00 per share, while Nigeria Breweries Plc dipped N2.45 or 2.04 per cent to close at N122.46 per share.

PZ Cusson Plc shed N1.00 or 3.85 percent to close at N25.00 per share, while UAC-Property Plc declined by 70 kobo or 9.62 percent to close at N6.58 per share.

Despite the bearish outlook of the market, 7Up Plc topped the gainers table with additional value of N1.98 or 1.08 percent to close at N184.99 per share.

It was trailed by International Breweries with 30 kobo or 1.80 percent to close at N17.00 per share, while Dangote Sugar Plc added 20 kobo or 3.17 percent to close at N6.50 per share.

Portland Paints Plc gained 17 kobo or 4.82 percent to close at N3.70 per share, while Ikeja Hotel Plc was up by 12 kobo or 3.46 percent to close at N3.59 per share.

In all, investors traded 2.50 million shares valued at N2.50 billion in 3,156 deals.