Losses persist on Nigerian equities market
By Toyin Ajadi, Lagos
Trading activities on the Equities Market of the Nigerian Exchange ended in red on Tuesday making it the second consecutive day of loss this week.
The benchmark all-share index depreciated by 2.26% to close the day at 49.350.71 points being 1,139.02 points lower than Monday’s closing point of 50,489.73 points.
Similarly, the market capitalisation shed N614 billion to close at N26,618 trillion as against N27,232 trillion on Monday.
The market sentiment for the day also closed negative with 16 losers and 12 gainers at the end of the trading day.
A total of 140.6 million shares valued at N1.6 billion were traded in 3,895 deals on Tuesday.
The gainer’s table was led by NEM Insurance Company which appreciated by 0.34k to close at N3.74k, followed by Prestige Assurance Company with 0.04k gain and a closing price of 0.44k and Ellah Lakes Plc appreciated by 0.35k to close at N3.93k.
On the other hand, Cornerstone Insurance Company led the losers’ chart having lost 0.07k to close at 0.68k while Dangote lost N24.00 to close at N241.00k and Japaul Gold and Ventures lost N0.03k to close at N0.34k.
Japaul Gold and Ventures recorded the highest volume of 23.2 million traded shares for the day and it was followed by Aiico Insurance with 14.8 million shares.