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Nigeria’s market drops N110.4bn as CAP, GTCO top trade

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The equity capitalisation in the Nigerian capital market depreciated by -0.39 percent as sell-off among stockholders led to a loss of N110.4 billion at the close of business on Tuesday.

The development pushed down the equity capitalization from N27.92 trillion to N27.81 trillion after eight hours of trading.

The All-Share Index dropped by 204.95 basis points to close at 51,586.5 ASI, down from 51,791.45 posted on Monday.

Investors traded 234.60 million shares valued at N2.56 billion in 4,646 deals on Tuesday.

This surpassed the 194.12 million shares worth N2.82 billion which exchanged hands in 4,899 deals the previous day.

Redstar Express led the gainers with N0.25kobo to rise from N2.50kobo to N2.75kobo per share.

John Holt gained 9.76 percent to move from N0.82kobo to N0.90kobo per share.

UPDC’s share value was up by N0.11kobo to end trading with N1.24kobo from N1.13kobo per share.

Unity Bank gained 9.52 percent to close at N0.46kobo from N0.42kobo per share.

Academy’s share appreciated by N0.11kobo to rise from N1.32kobo to N1.43kobo per share.

International Breweries topped the losers’ chart after shedding N0.60kobo to drop from N6.30kobo to N5.70kobo per share.

Consolidated Hallmark Insurance’s share dropped by 8 percent to end trading at N0.69kobo from N0.75kobo per share.

Jaiz Bank lost 6.67 percent to end trading with N0.84kobo from N0.90kobo per share.

READ ALSO: Investors lose N20.6bn amidst slump in Nigeria’s capital market

Nascon’s share dropped from N11.75kobo to N11 per share after losing N0.75kobo during trading.

BUA Foods lost N3.50kobo to drop from N55 to N51.50kobo per share.

CAP led the day’s trading with 29.32 million shares valued at N499.94 million.

GTCO followed with 29.01 million shares valued at N592.43 million.

UBA traded 25.40 million shares worth N189.26 million.

Transcorp sold 23.86 million shares worth N30.14 million, while Sterling Bank traded 16.44 million valued at N24.42 million

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