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Equities market declines further, index drops by 1.86%

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NSE maintain bearish trend despite listing of Ellah Lakes additional shares

The stock market closed on Tuesday bearish, as the All-Share-Index (ASI) further declined by 1.86 per cent to 50, 442.37 points from 51, 400.53 points which it posted on Monday.

This indicated a year-to-date (YTD) increased return of 18.09 per cent.

Similarly, the market capitalisation decreased by N516.70 billion to N27.20 trillion from N27.72 trillion recorded Monday.

The market breadth was negative as three stocks appreciated while 37 stocks declined.

The share prices of livestock gained 1.63 per cent to top the gainers’ list to close at N1.25 per share, while First Bank of Nigeria Holdings (FBNH) appreciated by 1.36 per cent to close at N11.15 per share.

Sterling Bank gained by 1.32 per cent to close at N1.53 per share.

Conversely, Transnational Express declined by 10 per cent to lead the losers’ chart to close at 63k per share.

International Breweries followed by 9.91 per cent to close at N5 per share.

MTN Nigeria dropped by 9.62.per cent to close at N192.50, while PZ shed 9.62 per cent to close at N9.40 per share.

Berger fell by 9.49 per cent to close at N6.20 per share.

The market turnover increased to N2.94 billion from N2.51 billion recorded on Monday.

Also, Flour Mills led the volume chart for the day as it traded 19.32 million shares worth N168.05 million.

Transcorp followed with 15.4 million shares worth N16.35 million.

Guaranty Trust Holding Company (GTCO) sold 12.69 million shares valued at N259.67 million, while Zenith Bank accounted for 11.39 million shares worth N243.69 million.

FBNH sold 9.95 million shares valued at N108.17 million.

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Olawunmi Ashafa

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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