Nigeria’s equities market closed on Tuesday on a negative note, as the Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 0.50 percent to close at 25,857.06 basis points, compared with the 0.70 percent depreciation recorded previously, pulling the year to date losses down by 9.72 percent.
The All Share Index (ASI) shed 129.75 points to close at 25,857.06 points compared to 184.07 points lost on Monday to close at 25,986.81 points, while the market capitalization dropped N44.7 billion to close at 8.901 trillion on Tuesday, compared to N63.4 billion lost previously to close at N8.945 trillion.
Investors’ appetite remained bleak as market breadth closed with 9 gainers paired against 19 losers. Wapco led the declining stocks by 8.33 percent to close at N44 per share, this was followed by Conoil that shed 4.99 percent to close at N34.11 per share and Oando that lost 4.89 percent to close at N3.89 per share.
Transcorp and International Breweries likewise dropped 4.82 and 4.47 percent each to close at 79 kobo and N19 per share respectively.
On the other hand, Custodian and Allied Insurance led the gainers chart with a 4.96 percent growth to close at N3.81 per share, followed by Airservice with a gain of 4.93 percent to close at N3.19 per share, and Nigerian Aviation Handling Company’s 4.89 percent growth to close at N2.36 per share. Nascon Allied Industries added 4.87 percent to close at N7.53 per share and Guranty Trust Bank emerged the top fifth gainer with an appreciation of 4.29 percent to close at N21.90 per share.
Market performance as measured by the total volume traded, rose to 189.7 million units valued at N905.1 million in 2,417 deals compared to 160.9 million units valued at N1.115 billion and traded in 2,431 deals, in previous session.
Standard Alliance Insurance emerged the most traded stock for the day with 95 million shares valued at N47.5 million. United Capital followed with 11.3 million shares worth N28.1 million, while FBN Holdings traded 11.2 million shares valued at N34.4 million.
Eterna Oil, with the trade of 10.8 million shares worth N33 million bagged the fourth position on the activity chart, while United Bank for Africa came fifth having sold 7.3 million shares valued at N31.2 million.
