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HomeBusinessNigeria's stocks down N27 bln for second consecutive day on profit booking

Nigeria’s stocks down N27 bln for second consecutive day on profit booking

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By Ifeyinwa Ezeokoli 

For the second consecutive day, the local bourse closed on a negative note on Tuesday as both the market index and capitalisation declined further.

The All Share Index (ASI) dropped by 0.11 percent while the market capitalisation declined by N27 billion at the end of transactions on Tuesday.

The All-Share Index declined by 50.77 per cent or 0.11 per cent to close at 46,843.09 against 46,893.86 achieved on Monday.

The market cap of equities listed on the NGX decreased to N25.246 trillion from N25.273 trillion as on the previous close.

The total volume traded closed with an exchange of 214.328 million units valued at N1.79 billion traded in 4,125 deals. The market breadth was negative with 16 gainers as against 18 losers.

The NGX 30 Index decreased by 0.21 percent to close at 1,785.79 points as against 1,789.48 points at the previous close.

Market turnover closed with a traded volume of 105.28 million units. FCMB and Guinness were the key gainers, while International Breweries and Fidelity were the key losers.

Consequently, the month-to-date and year-to-date returns settled at 1.2 per cent and 9.7 per cent, respectively.

READ ALSO: Access Bank transits to Holding Company, appoints Wigwe Group CEO

Also, the market capitalisation inched lower by N27 billion to close at N25.246 trillion from N25.273 trillion posted on Monday. 

On market outlook, analysts at GTI Securities Limited said that “Bearish sentiment persists, as sell-offs continue in all the major sectors. “We expect this to continue this week, with uncertainties hovering around the equity market.”

International Breweries led the losers’ chart in percentage terms by 10 percent to close at N4.50 per share. 

Veritas Kapital Assurance followed with 8.70 per cent to close at 21k, while FTN Cocoa processors lost 5.71 per cent to close at 33k per share. 

Fidelity Bank declined 4.88 per cent to close at N3.12, while Chams shed 4.76 per cent to close at 20k per share.

Conversely, PZ Cussons drove the gainers’ chart in percentage terms with a gain of 9.80 per cent to close at N11.20 per share. 

Japaul Gold and Ventures followed with 9.68 per cent to close at 34k, FCMB Group was up by 9.32 per cent to close at N3.40 per share.

Consolidated Hallmark Insurance rose by 4.92 per cent to close at 64k, while NPF Microfinance Bank gained 3.81 per cent to close at N2.45 per share. 

Transactions in the shares of Chams topped the activity chart with 30.40 million shares valued at N6.08 million.

Access Holdings followed with 30.29 million shares worth N305.51 million, while Transcorp traded 20.51 million shares valued at N20.44 million.

FBN Holdings traded 18.52 million shares valued at N216.38 million, while eTranzact International transacted 13.08 million shares worth N34.68 million.

Also, the total volume traded declined by 40.4 per cent to 214.33 million shares valued at N1.79 billion exchanged in 4,125 deals. 

This was against 359.89 million shares worth N2.61 billion traded in 5,163 deals on Monday.

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