Eterna, UBA among losers as Nigeria’s stock market bearish situation returns

The second day of trading at the Nigerian stock market witnessed the return of the bearish situation following a dip in equity capitalisation on Tuesday.

The market capitalisation dropped from N20.61 trillion to N20.24 trillion on Tuesday.

The market turned red with the All Share Index (ASI) crashing by 1.80 percent to close the market at 38,686.85 ASI on Tuesday.

This was below the 39,396.57 ASI recorded on Monday.

Despite the bearish state of the stock market, the volume of shares traded by investors increased from 297.26 million on Monday to 545.91 million on Tuesday.

Investors took part in 5,307 deals on Tuesday compared to 4,655 deals pulled in the stock market 24 hours earlier as appetite for Nigerian stocks increased.

The value of the shares also increased from N3.15 billion to N9.58 billion at the end of trading.

Champion Breweries topped the gainers’ chart as the company’s share price increased by N0.18kobo to end trading at N2.02kobo per share from N1.84kobo.

Neimeth’s share price rose by N0.17kobo to move from N1.75kobo to N1.92kobo.

Cutix gained N0.16kobo during trading and increased its share price from N1.81kobo to N1.97kobo.

Dangote Sugar share price moved up by N1.37kobo to end trading at N18.25kobo from N16.9kobo.

Nascon gained N1 in share price to move from N13 to N14 per share at the end of trading.

READ ALSO: Nigeria’s stock market rebounds as Zenith Bank leads active trade

On top of the losers’ chart is Eterna which shed N0.57 kobo during trading and dropped its share price from N5.7 kobo to N5.13kobo.

UBA share price declined from N8 to N7.2kobo following a loss of N0.8kobo in its share price.

Caverton Helicopter’s share price plunged by N0.19kobo to end trading at N1.8kobo per share from N1.99kobo.

NNFM share price declined from N6.3kobo to N5.7kobo per share after losing N0.6kobo during trading.

Vanleer completed the list as its share price fell by N0.7kobo to end trading at N6.7kobo per share, having opened trade with N7.4kobo.

However, for traded shares, Zenith Bank was the most active stock on Tuesday as investors traded 123.27 million shares worth N887.62 million.

Notore shares were traded at a volume of 74.07 million and valued at N3.67 billion.

Mutual Benefit was next with 58.03 million shares traded at a cost of N23.18 million.

First Bank reported 48.93 million shares worth N352.08 million, while Access Bank recorded over 42.74 million traded shares at a value of N324.21 million.

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