Capitalisation down by N1 billion in cautious trading

The performance was due to investors' reduced interest in major stocks.

The market closed on a positive note with 17 gainers against 13 laggards [Reuters/Akintunde Akinleye]

The Nigerian stock market ended trading on Tuesday on a cautious note with the capitalisation dropping by N1 billion to extend the negative sentiment to four trading sessions.

Specifically, the market capitalisation lost one billion naira to close at N19.724 trillion in contrast with N19.723 trillion on Monday.

Also, the All-Share Index, which opened at 37,857.89 dropped 0.65 points to close at 37,857.24.

The performance was due to investors' reduced interest in major stocks.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are Custodian Investment, FBN Holdings (FBNH), PZ Cussons Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO).

However, the market closed on a positive note with 17 gainers against 13 laggards.

NCR drove the gainers' chart in percentage terms with 9.64 per cent to close at N2.73 per share.

Wema Bank followed with 9.46 per cent to close at 81k, while FTN Cocoa Processors grew by 8.33 per cent to close at 39k per share.

NPF Microfinance Bank rose by 6.88 per cent to close at N1.71, while Lasaco Assurance gained 6.67per cent to close at N1.60 per share.

On the other hand, Ikeja Hotel led the losers' chart in percentage terms by 9.09 per cent to close at N1.40 per share.

Custodian Investment trailed with 6.15 per cent to close at N6.10, while Japaul Gold and Ventures lost 5.66 per cent to close at 50k per share.

Mutual Benefits Assurance lost 4.76 per cent to close at 40k, while FBNH shed four per cent to close at N7.20 per share.

Transactions in the shares of Wema Bank topped the activity chart with 37.19 million shares valued at N28.06 million.

GTCO followed with 27.91 million shares worth N823.19 million, while UPDC Real Estate Investment Trust traded 13.85 million shares valued at N19.56 million.

Fidelity Bank sold 12.16 million shares worth N28.36 million, while United Bank for Africa transacted 9.58 million shares worth N72.20 million.

In all, the total volume of traded rose by 5.4 per cent to 197.28 million shares valued at N1.92 billion exchanged in 3,567 deals.

This was against a total of 187.24 million shares worth N2.89 billion achieved in 4,017 deals on Monday.


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