Equity Market drops 0.40%, Investors Lose N265bn

The stock market on Tuesday continued on a negative note as performance indices declined by 0.40 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N265 billion or 0.40 per cent to N66.078 trillion from N66.343 trillion recorded on Monday.

Also, the All-Share Index dropped by 0.40 per cent or 423.48 points to close at 105,375.69 against 105,799.17 posted the previous day.

Meanwhile, the market breadth closed positive with 28 gainers and 22 losers.

On the gainers’ chart, Neimeth International Pharmaceutical soared by 10 per cent to close at N2.97, while Northern Nigeria Flour Mills (NNFM) gained by 9.99 per cent to close at N79 80 per share.

Custodian Investment Trust increased by 9.69 per cent to close at N21.50 per share and Sunu Assurance gained by 7.99 per cent to close at N5.00 per share.

Also, Guinea Insurance soared by 7.69 per cent to close at 70k per share.

On the losers’ chart, Bua Cement declined by 10 per cent to close at N83.70 per share, while Ellah Lakes dropped by 4.82 per cent to close at N3.16 per share.

Regency Alliance Insurance fell by 4.41 per cent to close at 65k and Wema Bank declined by 4.19 per cent to close at N10.30 per share.

Similarly, Omatek Ventures lost by 2.99 per cent, to close at N65k.

A total of 349.99 million shares worth N8.221 billion were exchanged across 11,230 transactions.

This is compared to 477.51 million shares worth N7.049 billion that was exchanged across 13,520 transactions recorded earlier.

Transactions in the shares of Access Corporation topped the activity chart with 36.757 million shares valued at N847.29 million.

Universal Insurance followed with 30.097 million shares worth N17.934 million while Fidelity Bank sold 28.896 million shares valued at N488.84 million.

Jaiz Bank traded 22million shares worth N70.127 million and Zenith Bank transacted 19.563 million shares valued at N929.982 million.