Stock market: Capitalisation loses N422bn

The equities market settled lower on Tuesday as market capitalisation declined by N422 billion to close at N28.567 trillion from N28.989 trillion on Monday.

The All-Share Index (ASI) also dipped by 1.45 per cent to 52,990.28 points from 53,772.14 points recorded on Monday.

The Month-to-Date and Year-to-Date returns increased to 6.8 per cent and 24.1 per cent, respectively.

Sectoral performance was broadly negative, as the Industrial Goods recorded a decline of 3.6 per cent, Consumer Goods fell by 1.8 per cent, Oil and Gas dropped by 0.8 per cent, Banking also dropped by 0.2 per cent, and Insurance fell by 0.1 per cent.

The market sentiment was positive with 19 gainers relative to 16 losers.

Transcorp Hotel topped the gainers’ chart in percentage terms with 6.48 per cent to close at N6.25 per share.

Champion Breweries followed with 5.05 per cent to close at N3.95, while CWG rose by 5.05 per cent to close at N1.04 per share.

Ecobank Transnational Incorporated (ETI) rose by 5.04 per cent to close at N12.50, while LASACO Assurance appreciated by 4.81 per cent to close at N1.09 per share.

Conversely, Nigerian Breweries led the losers’ chart in percentage terms by 9.96 per cent to close at N62.40 per share.

NNFM dropped by 9.83 per cent to close at N10.55, while Japaul Gold declined by 9.09 per cent to close at 30k.

Also, Prestige and Multiverse Mining and Exploration followed with a loss of 6.98 per cent and 4.76 per cent each to close at 40k and 20k, respectively.

The total volume traded decreased by 98.9 per cent to 318.28 million units valued at NGN3.71 billion, exchanged in 5,190 deals.

Transactions in the shares of Transcorp topped the activity chart with 86.74million shares valued at N111.73 million.

Jaiz Bank sold 22.77 million shares worth N20.25 million, while Sovereign Insurance accounted for 20.21 million shares valued at N5.03 million.

First City Monument Bank (FCMB) traded 19.76 million shares worth N68.51 million, while Sterling Bank transacted 17.17 million shares valued at N25.71 million.

MTN Nigeria was the most traded stock by value at NGN1.64 billion.