NASCON, AXA others drag down equities market as investors lose N856bn

The Nigerian equities market reversed 13 consecutive days of profit-making as investors lost N856 billion at the end of trading on Tuesday.

This followed the drop in the market capitalization to N56.425 trillion from N57.282 trillion posted by the bourse on Monday.

Similarly, the All-Share Index (ASI) decreased by 1, 564 basis points to 103,110.15 from 104,674.67 recorded the previous day.

The market breadth was negative as seven stocks advanced and 59 declined, while 50 others remained unchanged in 14,579 deals.

UPDC led the gainers’ table with 8.11% growth in share price to close at N2.00 from its previous price of N1.85 per share.

READ ALSO: Transcorp, Ikeja Hotel, Unity bank, Sterling top list of stocks to buy this week

Geregu Power, Wema Bank, and Ellah Lakes also posted 4.62%, 1.21%, and 0.99% increase in their share prices respectively.

On the flip side, NASCON Allied Industries, Caverton Offshore, AXA Mansard Insurance, Linkage Assurance, Guinea Insurance, Access Bank Holding, and Sterling Bank Financial Holding led other price decliners as they shed 10% each off their share price to close at N68.40, N1.80, N5.85, N1.17, N0.54, N25.20 and N6.30 from per share.

Guinness Nigeria, Transcorp, and Chams Holding Plc completed the losers list in today’s trading with 9.96%, 9.94%, and 9.93% dip in their share prices.

On the volume index, Japaul Gold traded 59.797 million shares valued at N179.5 million in 498 deals followed by Transcorp with 52.056 million shares worth N763.1 million traded by investors in 799 deals.

Access Bank Holding traded 46.811 million shares valued at N1.2 billion in 839 deals.

On the value index, UBA traded equities worth N1.233 billion in 941 deals followed by Access Corp which traded equities worth N1.209 billion in 839 deals.

Zenith Bank traded stocks worth N779 million in 510 deals to complete the top three in this category.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now