Nigerian equity market posts 0. 18% loss

Activities on the Nigerian Stock Exchange (NSE) on Tuesday closed negatively with the market indices dropping by 0.18 per cent in spite of heavy turnover.

Newsverge reports that the All-Share Index lost 43.33 points or 0.18 per cent to close at 25,329.08 compared with 25,372.41 posted on Monday, due to sell pressure.

Also, the market capitalisation which opened at N8.781 trillion shed N16 billion or 0.18 per cent to close at N8.765 trillion.

Newsverge reports that major highly capitalised stocks recorded price depreciation with Nigerian Breweries leading the losers’pack with a loss of N2.80 to close at N129.20 per share.

Guinness came second with N2.65 to close at N65.35 and Forte Oil lost N2.51 to close at N47. 69 per share.

Dangote Sugar dipped 17k to close at N6.02 and Presco depreciated by 10k to close at N47 per share.

On the other hand, Total led the gainers’ table, increasing by N9.99 to close at N283 per share.

Okomu Oil followed with a gain of N2.20 to close at N46.38, while UACN gained 65k to close at N13.65 per share.

In spite of the drop posted by market indicators, the volume of shares transacted rose by 74.48 per cent as investors bought and sold 444.50 million shares worth N3.65 billion exchanged in 3,336 deals.

Continental Reinsurance was the toast of investors, trading 205.19 million shares valued at N205.19 million.

Zenith Bank trailed with a turnover of 107.25 million shares worth N1.59 billion, while UBA sold 23.88 million shares valued at N117. 79 million.

Etranzact traded 16.87 million shares valued at N84.36 million and United Capital sold 15.69 million shares worth N55.65 million.