Business
Bearish sentiment persists as investors lose N1.6tr in five hours
The Nigerian equities market continued to experience bearish sentiment as investors lost a massive N1.06 trillion at the close of trading on Tuesday.
This followed a dip in the share prices of stocks like HONEY FLOUR, DANGOTE CEMENT and JULIUS BERGER amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization fell to ₦63.1 trillion from ₦64.2 trillion recorded by the bourse on Monday.
The benchmark All-Share Index (ASI) decreased to 103,622.09 points from the 105,367.25 points which were recorded the previous day.
The market breadth was negative as 23 stocks advanced and 40 stocks declined, while 57 stocks remained unchanged in 13,052 deals.
NNFM, LIVESTOCK, and ACADEMY led other gainers with 10%, 9.91% and 9.90% growth each in prices to close at N45.10, N6.10 and N3.22 from the previous N41.00, N5.55 and N2.93 per share.
READ ALSO: Ikeja Hotel, Multiverse, PZ, others top list of stocks to watch this week
HONEY FLOUR, DANGOTE CEMENT, and JULIUS BERGER led other price decliners with 10%, 9.98 and 9.98% dip in share prices to close at N9.54, N431.00, and N139.80 from the previous N10.60, N478.80 and N155.30 per share.
On the volume index, GTCO led trading with 54 million shares in 275 deals followed by NB which traded 32 million shares in 101 deals.
UNIVERSAL INSURANCE traded 30 million shares in 203 deals.
On the value index, GTCO traded stocks worth N3.1 billion in 275 deals followed by NB which traded equities worth N1 billion in 101 deals.
ZENITH BANK traded shares valued at N624 million in 466 deals.
By: Babajide Okeowo
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