Business
NSE: Market contracts by N393bn amid losses by big-cap stocks
Trading on the floor of the Nigerian Stock Exchange (NSE) recorded the first loss of the year Tuesday as sell pressure on some of the most capitalised stocks on the bourse eroded the market value of equities by N392.816 billion.
Bellwether stocks like MTNN, GTB, BUA Cement, Zenith Bank and Okomu Oil accounted for the heftiest part of the loss.
A decline of 2.98% in the index points of the Banking Index, the day’s worst performer of the 5 sectorial indices, also drove loss.
Trade ended with a negative breadth, with 34 losers emerging against 16 gainers. The All Share Index (ASI) fell by 1.83% to end the session at 25,987.14 basis points, while market capitalisation dipped to N21.122 trillion.
Year to date, the index is up by 0.31%.
TOP 5 GAINERS
BOC Gases topped the NSE gainers’ chart, appreciating by 10.50% to close at N9.72. NEM added up 9.50% to end today’s trade at N1.96. Sovereign Trust went up by 9.09% to N0.24. Japaul leapt to N0.74, notching up 8.82% in the process. Livestock climbed up by 8.63% to N1.51.
READ ALSO: NSE: Industrial and consumer goods stocks propel N458bn gain
TOP 5 LOSERS
Oando led the NSE losers’ chart, declining by 10% to close at N3.33. FTN Cocoa shed 9.72% to end today’s trade at N0.65. May & Baker to N3.21, losing 8.55%. FBN Holdings slumped to N7.20, recording 8.28% depreciation. ABC Transport closed at N0.35, going down by 7.89%.
TOP 5 TRADES
465.673 million shares estimated at N5.118 billion were traded on the NSE in 7,573 deals.
Transcop led trade with 69.159 million units of its stocks worth N64.816 million traded in 197 trades. 31.708 million units of Zenith shares priced at N788.333 exchanged hands in 537 transactions. FCMB had 26.594 million shares valued at N80.208 million traded in 212 deals. Japaul traded 26.039 million shares estimated at N19.269 million in 66 transactions. Access traded 24.534 million shares valued at N214.569 million in 307 deals.
Join the conversation
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.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...