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Investors lost N87bn at NSE

by Business News Report

Investors on the Nigerian Stock Exchange (NSE) on Tuesday lost N87 billion as a result of profit taking embarked upon by investors. The market capitalisation lost N87 billion or 0.81 per cent to close at N10.714 trillion compared to N10.801 trillion recorded on Monday. Also, the All-share Index closed lower dropping by 255.95 points or 0.81 per cent to close at 31,372.90 against the 31,628.85 achieved on Monday.
Activities at the nation’s bourse have remained on a negative trend for over two weeks, due to non-availability of government’s economic blueprint. Market analysts had predicted that the market would maintain a negative slide if government failed to release its economic policies for investors to ascertain the nation’s economic direction.
An analysis of the price movement chart indicated that 7UP topped the losers’ chart, dropping N8 to close at N181 per share.
It was followed by Presco with 1.70 to close at N32.30, while Flour Mills lost N1.49 to close at N29.20 per share. Stanbic IBTC and Okomu Oil declined by 95k and 84k respectively, to close at N24 and N27.16 per share each. On the other hand, Mobil led the gainers’ table, appreciating by N7.35 to close at N154.35 per share. Ecobank Transnational gained 55k to close at N21, while Caverton increased by 14k to close at N3.69 per share. Guinness improved by 11k to close at N139.91 and UBA grew by 10k to close at N4.30 per share.
In spite of the drop in market indices, the volume of shares traded improved marginally with investors trading 277.09 million shares worth N4.46 billion transacted in 3,643 deals.

NAN reports that this was against a total of 264.36 million shares valued N5.47 billion traded in 3,049 deals on Monday. Zenith Bank emerged the most traded equity, trading 118.36 million shares worth N2.19 billion achieved in 295 deals. Access Bank followed with 23.10 million shares valued N115.32 million traded in 246 deals, while Transcorp sold 13.69 million shares worth N31.68 million in 159 deals. FBN Holdings exchanged 11.67 million shares valued N90.78 million transacted in 356 deals and UBA traded 9.93 million shares worth N42.65 million achieved in 213 deals.

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