Connect with us

Business

NSE LIVE! Equities lose N30b as selloff continues

Published

on

NSE LIVE! Equities lose N30b as selloff continues

The downtrend at the Nigerian equities market continued on Tuesday as market values of most quoted companies depreciated to lower levels.

The main indices at the Nigerian Stock Exchange (NSE) indicated average day-on-day decline of N30 billion or 0.34 per cent. The decline pushed the average year-to-date return for the stock market to -11.90 per cent.

Aggregate market of all quoted equities on the NSE rose from N8.716 trillion to close at N8.686 trillion. The All Share Index (ASI), the benchmark index for the market, declined from 25,318.41 points to close at 25,233.42 points.

There were 20 losers against 13 gainers. Forte Oil led the losers with a loss of N5.81 to close at N53.85. Dangote Cement followed with a loss of N1.99 to close at N158 while Transcorp Hotel recorded a drop of 27 kobo to close at N5.24.

Read also: NSE LIVE! Equities open negative as sell pressure persists

Mobil Oil Nigeria recorded the highest gain of N22.48 to close at N241.89. Total Nigeria followed with a gain of N9.40 to close at N254.85 while Nigerian Breweries gathered N1.99 to close at N143.

Total turnover stood at 511.58 million shares valued at N1.70 billion in 2,342 deals. The three most active traded stocks were Wema Bank, with 356.22 million shares; Diamond Bank, 63.56 million shares and FCMB, which placed third with exchange of 14.6 million shares.

“Market performance remained pressured by weak macroeconomic indicators and policy responses particularly on foreign exchange management to the economic recession. However, with equities currently at seven-month low, bargain hunters might lift performance in subsequent sessions,” Afrinvest Securities stated.

RipplesNigeria ….without borders, without fears

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