Stock market ends lower, posts N12bn loss

Trading on the Nigerian Stock Exchange closed on a negative note on Tuesday following the extension of downtrend to four consecutive trading sessions amid selling pressure on blue chip stocks.

Twelve stocks recorded price appreciation at the end of trading while 13 suffered losses.

The NSE All-Share Index dipped by 23.38 basis points or 0.08 per cent to close at 27,547.56 bps on Tuesday as against 27,570.94 bps on Monday.

The market capitalisation of equities depreciated by N12bn from N14.36tn on Monday to N14.35tn as market sentiment remained negative.

A total of 168 million shares were traded in 3,075 deals on Tuesday.

The premium board was the most active, with 78.6 million shares traded by investors in 1,358 deals. It was largely driven by activities in the shares of Access Bank Plc and Zenith Bank Plc.

The banking sector was boosted by the activities in the shares of Fidelity Bank Plc and Guaranty Trust Bank Plc, with a turnover of 30.8 million shares in 412 deals.

UACN Property Development Company Plc and Wapic Insurance Plc topped the day’s gainers’ table with 10 per cent each to close at 99 kobo and 33 kobo per share respectively.

C & I Leasing Plc rose by 7.41 per cent to close at N5.80 per share, while Neimeth International Pharmaceuticals Plc added 6.67 per cent to close at 48 kobo per share.

On the flip side, Law Union and Rock Insurance Plc led the losers with a drop of 4.81 per cent to close at 99 kobo per share; Japaul Oil & Maritime Services Plc shed 4.76 per cent to close at 25 kobo per share, and Courteville Business Solutions Plc fell by 4.55 per cent to close at 21 kobo per share.
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