Stock Market Index Dips for Second Day Running

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Stock Market Index Dips for Second Day Running
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Trading activities on the equities market of The Nigerian Stock Exchange (NSE) extended losing streak Tuesday, declining by 0.07 per cent over investors profit-taking.

The All-Share Index lost 30.75 basis points or 0.07 per cent to close at 41,051.63 basis points, from 41,082.38 basis points posted on Monday.

Its Year-to-Date (YTD) returns currently stands at +1.94 percent.

Although it is an improvement from Monday, trading closed at 0.23 percent depreciation.

Investors after Tuesday trading lost N16.08 billion in a trading volume of 525 million worth N5.33 billion as market capitalization close at N21.47 trillion. A total of 43 stocks appreciated in value, led by Afromedia while 21 stocks depreciated at the end of the day’s session.

Japaul Gold and Ventures led the losers’ chart in percentage terms with 9.86 per cent to close at N1.28 per share. Ardova followed with 8.63 per cent to close at N18 per share. FTN Cocoa Processors and Honeywell Flour Mill shed 8.33 per cent each to close at 66k and N1.10, while Chams lost 6.67 per cent to close at 28 kobo per share.

Conversely, Afromedia, Guinea Insurance, NEM Insurance, Prestige Assurance, Union Diagnostic & Clinical Services and Wapic Insurance drove the gainers’ chart in percentage terms, gaining 10 per cent each, to close at 22 kobo, 22 kobo, N2.53, 55 kobo, 33 kobo and 66 kobo per share, respectively.

Livestock Feeds followed with 9.91 per cent to close at N2.55, while AIICO Insurance rose by 9.85 per cent to close at N1.45 per share.

Transcorp topped the activity chart with an exchange of 42.94 million shares valued at N50.24 million.

Japaul Gold and Ventures followed with 39.59 million shares worth N50.87 million, while Zenith Bank traded 28.53 million shares valued at N745.99 million. BUA Cement sold 25.69 million shares worth N2.05 billion, while Courteville Business Solutions transacted 21.97 million shares worth N5.33 million.

The total volume of shares traded dropped by 28.9 per cent as investors bought and sold 525.01 million shares worth N5.34 billion in 5,965 deals. This was in contrast with a turnover of 738.52 million shares valued at N4.17 billion transacted on 7,396 deals on Monday.

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