Equity Market Reverses Gain With N92bn Loss 


The Nigerian equity market lost N92.32bn due to the dip in National Salt Company, Thomas Wyatt Nigeria and May and Baker Nigeria and 16 other stocks.

The market capitalisation and the all-share index decreased by 0.16 per cent to close at N56.36tn and 99,630.51 points, respectively.

Consequently, the year-to-date return dropped to 33.24 per cent from 33.5 per cent.

Despite the decline in the equity market, market breadth was positive as 29 stocks advanced, and 19 declined, in 8,064 deals.

The gainers were led by Total Nigeria with a 9.98 per cent appreciation to N388.90, Presco rose by 9.97 per cent to close at N323.30 and UPDC leverages gained 9.92 per cent to close trading at N1.33.

On the other hand, National Salt Company, Thomas Wyatt Nigeria, and May and Baker Nigeria were the top decliners, with decreases of 9.91 per cent, 9.66 cent, and 7.13 per cent respectively, closing at N36.80, N1.59, and N5.60.

Leading in terms of volume, Fidelity Bank traded 293.18 million shares in 340 deals, followed by Nigerian Breweries, which exchanged 101.584 million shares in 145 deals.

On Monday, the equity market gained N323bn buoyed by appreciation by Flour Mills Nigeria, Total Nigeria, Access Holding and 27 others.


Punch news/Olusola Akintonde

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