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NSE: Sell pressure shrinks market capitalisation by N128 billion

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Profit-taking in bellwether bank and industrial goods stocks caused the Nigerian Stock Exchange to close in the negative territory on Tuesday with all the Key Performance Indicators (KPI) ending in red.

A negative market breadth was posted with 15 losers recorded against 15 losers. The All Share Index (ASI) slumped by 0.83% to close at 29,462.76 basis points.

Market capitalisation dropped to N15.176 trillion at the end of today’s trade. Save for the Insurance (0.70%), Oil and Gas (0.29%) and Consumer Goods (0.34%) Indices, all other major indices finished lower. Year to date, the index is down by 9.76%.


In value terms, WAPCO led gainers on Tuesday, appreciating by 6.12% to close at N17.35.

Nigerian Breweries added up 1.76% to end the day’s trade at N52. MTNN went up by 0.16% to N128.5. Oando rose to N3.6, notching up 2.27% in the process. UPCREIT completed the top 5, climbing up by 1.45% to N3.50.


Dangote Cement topped the losers’ chart today, declining by 1.14% to close at N173. GTB shed 5.29% to end the day’s trade at N32.2. Access Bank fell to N10.05, losing 6.51% in the process. BUA Cement slumped to N36.45, recording 1.49% depreciation. Union Bank closed at N22.35, going down by 1.76%.

READ ALSO: N108.427tn worth of transactions executed in Nigeria in 2019 —NIBSS


272.840 million shares estimated at N3.713 billion were traded in Tuesday’s 4,945 deals.

Zenith Bank was the most active stock with 57.810 million of its stocks worth N1.307 billion traded in 587 deals. 33.001 million units of Access Bank shares priced at N340.754 million exchanged hands in 537 transactions. UBA had 22.425 million shares valued at N193.717 million traded in 311 deals. Oando traded 18.206 million shares estimated at N65.590 million in 59 transactions. FCMB traded 16.242 million shares valued at N32.327 million in 142 deals.

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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