Nigerian Stock Exchange investors net worth further drops N138bn

Trading on the Nigerian Stock Exchange for the second consecutive day on Tuesday maintained bearish posture with the market capitalisation losing N138 billion following profit taking.

The market capitalisation lost N138 billion or 0.87 percent to close lower at N15.745 trillion against N15.261 trillion on Monday.

Also, the All-Share Index which opened at 44,261.72 dipped 384.42 points or 0.87 percent to close at 43,877.30.

A breakdown of the price movement chart indicated that Mobil Oil recorded the highest loss to lead the losers’ table, declining by N6 to close at N210 per share.

Unilever trailed with a loss of N2.10 to close at N45.35, while Flour Mills depreciated by N1.60 to close at N32.40 per share.

Zenith International Bank was down by N1.45 to close at N31.20, while Julius Berger shed N1.35 to close at N27.30 per share.

On the other hand, Stanbic IBTC led the gainers’ table growing by N1 to close at N47 per share.

Dangote Sugar followed with a gain of N1 to close at N22, while PZ industries gained 35k to close at N24 per share.

Redstar Express appreciated by 25k to close at N5.75, while Eterna increased by 20k to close at N5.88 per share.
However, the volume of shares closed higher as investors staked N4.91 billion on 717.15 million shares transacted in 6,720 deals.

This was in contrast with a turnover of 426.87 million shares valued at N2.77 billion achieved in 5,741 deals on Monday.

Lasaco Insurance was investors delight accounting for 182.77 million shares worth N58.99 million.

FCMB Group followed with an exchange of 90.49 million shares valued at N258.56 million, while Skyebank traded 79.99 million shares worth N101.96 million.

Transcorp sold 66.35 million shares valued at N144.94 million, while FBN Holdings accounted for 39.72 million shares worth N513.29 million.