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NGX resumes May with N17bn loss

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

Activities on the nation’s bourse resumed the week and month on Tuesday with a loss of N17 billion following sell pressure on Lafarge Africa and MTN Nigeria Communications (MTNN).

Specifically, the market capitalisation shed N17 billion or 0.08 per cent to close at N20.830 trillion from N20. 847 trillion recorded on Friday.

Also, the All-Share Index declined by 32.64 points or 0.08 per cent to 39,801.78 compared with 39,834.42 posted on Friday.

Consequently, the month-to-date and year-to-date losses stood at 0.1 per cent and 1.2 per cent, respectively.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Lafarge Africa, MTNN, Zenith Bank, Sterling Bank and United Bank for Africa.

Linkage Assurance led the losers’ chart in percentage terms by 13.11 per cent to close at 53k per share.

Regency Alliance Insurance followed with 9.09 per cent to close at 30k, while Consolidated Hallmark Insurance shed 7.69 per cent to close at 36k per share.

Sterling Bank dipped 7.50 per cent to close at N1.48, while Lafarge Africa depreciated by 5.20 per cent to close at N20.05 per share.

Conversely, Lasaco Assurance drove the gainers’ chart in percenatge terms, gaining 9.86 per cent to close at N1.56 per share.

Neimeth International Pharmaceuticals followed with 9.83 per cent to close at N1.90, while International Breweries rose by 9.62 per cent to close at N5.70 per share.

Courteville Business Solutions rose by 8.70 per cent to close at 25k, while Royal Exchange appreciated by 7.55 per cent to close at 57k per share.

Meanwhile, the total volume of shares traded increased by 30 per cent to 426.51 million shares worth N4.65 billion exchanged in 5,616 deals.

This was in contrast with 328.39 million shares valued at N3.11 billion transacted in 4,388 deals on Friday.

Transactions in the shares of FBN Holdings topped the activity chart with 79.60 million shares worth N574.98 million.

Access Bank followed with 64.85 million shares valued at N479.04 million, while Zenith Bank traded 58.004 million shares worth N1.28 billion.

Lafarge Africa sold 28.67 million shares valued at N627.92 million, while FCMB Group transacted 25.73 million shares valued at N74.69 million.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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