NSE market indicators drop 0.31%

Activities on the Nigerian Stock Exchange (NSE) on Tuesday maintained a negative posture as the market indices dropped by 0.31 per cent.

Newsverge reports that the market capitalisation lost N27 billion or 0.31 per cent to close at N8.791 trillion against N8.818 trillion achieved on Monday, amid profit taking.

In the same vein, the All-Share Index which opened at 25,485.17 shed 78.45 points or 0.31 per cent to close at 25,406.72.

An analysis of the price movement table showed that major blue chips posted losses, with Total leading with a loss of N12.90 to close at N260 per share.

Dangote Cement trailed with a loss of N3 to close at N162 and Lafarge Africa dipped N1.05 to close at N38.85 per share.

PZ industries was down by 59k to close at N14, while Ecobank Transnational Incorporated declined by 45k to close at N8.55 per share.

On the other hand, Seplat led the gainers’ table, growing by N36.82 to close at N396.10 per share.

7UP followed with a gain of N3 to close at N83 and Nestle appreciated by N1 to close at N750 per share.

International Breweries gained 75k to close at N15.75 and Guaranty Trust Bank advanced by 45k to close at N26.95 per share.

In spite of the drop in market indicators, the volume of shares traded closed higher as investors bought and sold 916.26 million shares valued at N2.41 billion transacted in 3,342 deals.

Newsverge reports that this was in contrast to a turnover of 561.48 million shares worth N2.47 billion exchanged in 3,032 deals on Monday.

Niger Insurance was the toast of investors, accounting for 724.31 million shares valued at N391.13 million.

Diamond Bank followed with 29.41 million shares worth N25. 59 million and United Bank for Africa traded19.85 million shares valued at N109.96 million.

FBN Holdings sold 17.67 million shares worth N54.47 million and Fidelity Bank exchanged 15.68 million shares valued at N12.42 million.