Equities Shed N61.81bn

By Salamatu Ejembi, Lagos

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The equities market continued on Tuesday with bearish sentiment as the All-Share Index closed 0.24% lower to settle at 47,322.97 basis points while the market capitalization lost ₦61.81bn to close at ₦25.78trn.

Losses in NIGERIAN BREWERIES PLC(-7.7%), STANBIC IBTC HOLDINGS PLC(-4.2%), ZENITH BANK PLC (-1.36%) and GUARANTY TRUST HOLDING COMPANY PLC(-0.25%), offset the gains in MTN NIGERIA COMMUNICATIONS PLC(+0.24%) and BUA CEMENT PLC (+0.26%).

A total of 120.95 million shares valued at ₦1.65 billion were exchanged in 3,022 deals even as TRANSNATIONAL CORPORATION PLC led the volume chart with 34.59 million units of shares traded while MTN NIGERIA COMMUNICATIONS PLC led the value chart in deals worth ₦354.28m.

As measured by market breadth, market sentiment was negative as 14 stocks lost relative to 13 gainers.

CHAMS HOLDING COMPANY PLC topped the gainers with a rise from 0.22k per share to 0.24k per share by 0.02k or 9.09%.

Followed by CORONATION INSURANCE PLC with a rise from 0.33k per share to 0.35k per share by 0.02k or 6.06%.

Next is NPF MICROFINANCE BANK PLC with a 0.08k or 5.33% rise from 1.50k per share to 1.58k per share.

On the flip side, NEIMETH INTERNATIONAL PHARMACEUTICALS PLC declined from 1.38k per share to 1.27k per share losing 0.11k or 7.97%.

Followed by NIGERIAN BREWERIES PLC with a decline from 48.95k per share to settle at 45.20k per share, losing 3.75k or 7.66%.

And CAVERTON OFFSHORE SUPPORT GRP PLC was right after with a fall from 0.88k per share to close at 0.83k per share by 0.05k or 5.68%.

Analysing by sectors, the Banking (-2.1%) and Consumer Goods (-1.0%) indices declined, while the Insurance (+0.1%) and Industrial Goods (+0.1%) indices recorded gains. The Oil & Gas index closed flat.

 

Confidence Okwuchi

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