Investors lose N119 BN amidst renewed profit taking
Trading on the nation’s bourse returned to negative territory on Tuesday with investors losing N119 billion on renewed profit taking.
Consequently, the market capitalisation which opened at N20.663 trillion dipped N119 billion to close at N20.544 trillion.
Also, the All-Share Index lost 226.26 points or 0.57 per cent to close at 39,267.11 from 39,493.37 achieved on Monday.
The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which are Dangote Cement, Julius Berger, Ecobank Transnational Incorporated, Fidelity Bank and International Breweries.
Regency Alliance Insurance led the losers’ chart in percentage terms by 9.09 per cent to close at 30k per share.
Prestige Assurance followed with 8.89 per cent to close at 41k, while Daar Communications shed eight per cent to close at 23k per share.
ETI lost 4.72 per cent to close at N5.05, while Sovereign Trust Insurance shed 4.17 per cent to close at 23k per share.
On the other hand, Livestock Feeds dominated the gainers’ chart in percentage terms, gaining 9.66 per cent to close at N41.93.
Cornerstone Insurance and Courteville Business Solutions followed with a gain 9.09 per cent each to close at 60k and 24k per share, respectively.
NPF Microfinance Bank was up 8.33 per cent to close at N1.95, while Royal Exchange appreciated by 7.69 per cent to close at 28k per share.
In all, the total volume of shares traded decreased by 35.6 per cent with an exchange of 336.13 million shares valued at N3.27 billion exchanged in 4,394 deals.
This was in contrast with a turnover of 522.17 million shares worth N10.66 billion traded in 4,566 deals on Monday.
Transactions in the shares of Union Bank of Nigeria topped the activity chart with 78.89 million shares valued at N418.14 million.
Courteville Business Solutions followed with 43.91 million shares worth N10.53 million, while Guaranty Trust Bank sold 28.97 million shares valued at N955.09 million.
Zenith Bank traded 24.91 million shares worth N560.47 million, while Transcorp transacted 22.62 million shares worth N17.96 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
States
Troops arrest suspected terrorist logistics suppliers in Borno
Mr Goni said troops recovered 202 cartons of herbicides, one jerrycan containing suspected acid, and one Starlink wireless internet communication system, among other items.
Hot news Home top
FULL SPEECH: ‘I go with good grace,’ Starmer says in final speech as UK PM
Keir Starmer gave his final speech as prime minister on the steps of Downing Street.
Economy
Lagos inaugurates accelerator training for N10 million single-digit MSME loans
The loans will be provided under the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) programme.
Politics
My administration remains focused on service, says Gov Alia
Governor Hyacinth Alia says his administration remains undeterred, focused, and deeply committed to serving the people in Benue.
Abuja
Court admits Miyetti Allah leader Bodejo to N2 billion bail in money laundering trial
The Federal High Court, Abuja Division, on Monday admitted Bello Bodejo, the national president of Miyetti Allah Kauta Kore, to N2 billion bail with two sureties.
States
FRSC cracks down on drivers, arrests 58 offenders for overloading
The Federal Road Safety Corps says it arrested 58 offenders since beginning its ‘War Against Overloading’ campaign in Gombe.
