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Trading closes red on NGX, down 0.22%

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Activities on the nation’s bourse closed in red on Tuesday with the market indices dropping by 0.22 per cent on investors profit taking in 18 stocks.

Specifically, the All-Share Index which opened at 42,411.12 dipped 93.60 points or 0.22 per cent to close at 42,317.52.

Consequently, the month-to-date loss increased to 2.2 per cent, while the year-to-date gain moderated to 5.1 per cent.

Similarly, the market capitalisation lost N50 billion to close at N22.081 trillion compared with N22.131 trillion achieved on Monday.

The market negative performance was driven by price depreciation in large and medium capitalised stocks, which are Guaranty Trust Holding Company (GTCO), Stanbic IBTC Holdings, UPDC Real Estate Investment Trust, Zenith Bank and Ecobank Transnational Incorporated.

Market sentiment remained negative with 18 laggards, relative to 13 gainers.

UPDC Real Estate Investment Trust led the losers’ chart in percentage terms by 6.67 per cent to close at N4.20 per share.

Japaul Gold and Ventures followed with 5.13 per cent to close at 37k, while Caverton Offshore Support Group lost 4.62 per cent to close at N1.65 per share.

GTCO shed 3.85 per cent to close at N25, while ETI depreciated by 2.69 per cent to close at N9.05 per share.

Conversely, Custodian Investment led the gainers’ chart in percentage terms with 9.86 per cent, to close at N7.80, per share.

Royal Exchange followed with 8.62 per cent to close at 63k, while Meyer Plc appreciated by 8.33 per cent to close at 39k per share.

Unity Bank went up by 6.82 per cent to close at 47k, while UACN appreciated by 6.52 per cent to close at N9.80 per share.

Meanwhile, the total volume traded increased by 17.6 per cent to 270.09 million units valued at N2.299 billion and exchanged in 3,753 deals.

This was in contrast with a total of 229.64 million shares worth N3.29 billion traded in 4,426 deals on Monday.

Transactions in the shares of Access Bank topped the activity chart with 55.04 million shares valued at N497.74 million.

Universal Insurance followed with 53.16 million shares worth N10.63 million, while Unity Bank traded 25.23 million shares valued at N11.88 million.

FBN Holdings traded 21.10 million shares worth N252.45 million, while International Breweries transacted 20.15 million shares worth N98.71 million.

Chinyere Joel-nwokeoma

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