Nigeria’s stock market down 0.43%, investors lose N285bn

The stock market on Tuesday witnessed a downturn as performance indices declined by 0.43 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N285 billion or 0.43 per cent to N66.484 trillion from N66.769 trillion recorded on Monday

Also, the All-Share Index dropped by 0.43 per cent or 454 points to close at 106,167.75 against 106,621.91 posted the previous day.

The market breadth closed negative with 31 losers and 23 gainers.

On the losers’ chart, Mecure industries declined by 10 per cent, to close at N11.25, while ABC Transport lost by 7.98 per cent, to close at N1.50 per share.

Daar Communications fell by 7.46 per cent, to close at 62k, and Guinea Insurance declined by 7.35 per cent, to close at 63k per share.

Also, Royal Exchange lost by 7.32 per cent, to close at 75k per share.

Meanwhile, on the gainers’ chart, Livestock Feeds soared by 9.93 per cent to close at N9.85, while Cornerstone Insurance gained by 9.25 per cent to close at N3.19 per share.

International Energy Insurance increased by 8.99 per cent to close at N1.94 per share, while Smart Products Nigeria gained by 8.33 per cent to close at 39k.

Also, Lasaco Assurance soared by 7.55 per cent to close at N2.85 per share.

A total of 324.59 million shares worth N7.918 billion were exchanged across 12,652 transactions, compared to 364.97 million shares, worth N17.628 billion exchanged across 14,565 transactions recorded earlier.

Transactions in the shares of Fidelity Bank topped the activity chart with 29.387 million shares valued at N502 million.

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Access Corporation followed with 28.345 million shares worth N680 million while Guaranty Trust Holding Company transacted 28 million shares valued at N1.688 billion.

Zenith Bank traded 22.359 shares worth N1.067 billion, while Universal Insurance transacted 16.194 million shares valued at N9.724 million.

(NAN)