Equities Market Dips By N47bn As Profit Taking Persists

The Nigerian equities market on Tuesday further recorded downtrend as the market capitalisation dropped by N47 billion, marking its second successive decline.

The market capitalisation closed at N25.514 trillion from N25.561 trillion recorded the previous day.

Similarly, the All-Share Index decreased by 87.81 points, representing a dip of 0.19 per cent to close at  47,340.86 from 47,428.67 points recorded yesterday.

Market sentiment, as measured by market breadth, was negative, as 22 stocks declined, while 15 posted gains.

Veritas Kapital Assurance recorded the highest price gain of 4.76 per cent to close at 22k per share. Chams followed with a gain of 4.55 per cent to close at 23k per share.

Eternal Oil appreciated by 4.17 per cent to close at N5.25 per share.

Unilever went up by 3.85 per cent to close at N13.50 per share, while Royal Exchange Insurance appreciated by 3.67 per cent to close at N1.13.

Also, Neimeth gained 2.94 per cent to close at N1.75 per share and Lasaco appreciated by 2.86 per cent to close at N1.08k.

Fidelity Bank added 2.80 per cent to close at N2.93. Access Bank gained 2.44 per cent to close at N10.50 while Sterling Bank also garnered 1.96 per cent to close at N1.56 per share.

On the other hand, Cornerstone led the losers’s chart by 8.82 per cent to close at 62k per share.

Multvers lost by 8.33 per cent to close at 22k per share while Scoa inched down by 7.69 to close at N2.40 per share

Prestige Insurance followed with a decline of 6.12 per cent to close at 46k per share.

FTNCocoa and Japaul Gold lost 5.71 per cent each to close at 33k  per share respectively.

AIICO shed 4.41 per cent to close at 65k per share, while Niger Insurance lost 4.35 per cent to close at 22k per share. FCMB and Unity Bank depreciated by 4.17 per cent and four per cent to close at N3.45 and 48k per share respectively.

The total volume transactions was down by 85.69 per cent at 183.26 million shares, worth N2.48 billion, traded in 3,779 deals.

Transactions in the shares of UBA Group topped the most volume with 23.41 million shares valued N200.2 million in 279 deals.

Access Bank followed with 20.43 million shares worth N108.914 million in 158 deals, while First Bank of Nigeria Holdings (FBNH) traded 10.17 million shares valued N104.44 million in 145 deals.

Zenith Bank traded 961,078 shares valued N259.64 million in 304 deals

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