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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%.


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


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%.


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.

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