Stock market records further loss of N101 billion
Trading on the Nigerian Exchange Ltd. on Tuesday, again closed on a negative note with a loss of 0.35 per cent, following sustained sell pressure by investors.
Specifically, the market capitalisation lost N101 billion to close at N28.442 trillion from N28.543 trillion achieved on Monday.
Similarly, the All-Share Index declined by 0.35 per cent or 187.47 points to close at 52,756.62 compared with 52,944.09 recorded on Monday.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: Flour Mills of Nigeria, GlaxoSmithKline Consumer, Unilever and Dangote Sugar.
PZ dominated the gainers’ chart in percentage terms, gaining 9.96 per cent to close at N13.25 per share.
Berger followed with 9.72 per cent to close at N7.90, while Northern Nigeria Flour Mills rose by 9.63 per cent to close at N11.95 per share.
McNichols inched higher by 9.52 per cent to close at N1.61, while Abbey Buildings appreciated by 9.49 per cent to close at N1.50 per share.
Conversely, Flour Mills of Nigeria led the losers’ chart in percentage terms, losing by 9.20 per cent to close at N37 per share.
GlaxoSmithKline Consumer followed with 8.39 per cent to close at N6.55, while NPF Microfinance Bank lost 8.02 per cent to close at N1.95 per share.
Japaul Gold depreciated by 6.25 per cent to close at 30k, while Champion Plcr declined by 6.09 per cent to close at N3.70 per share.
Transactions in the shares of First City Monument Bank (FCMB) topped the activity chart with 775.09 million shares valued at N2.96 billion.
Jaiz Bank followed with 172.15 million shares worth N151.77 million, while Transcorp traded 140.08 million shares valued at N202.13 million.
Guaranty Trust Holding Company(GTCo) sold 50.39 million shares worth N1.21 billion, while International Breweries sold 21.02 million shares valued at N165.13 million.
In all, the total volume of shares traded appreciated by 253.76 per cent with an exchange of 1.32 billion shares worth N7.72 billion traded in 6,449 deals.
This was against a turnover of 374.18 million shares valued at N4.96 billion exchanged in 6,854 deals on Monday.
(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.”
World
Zelensky sacks Ukraine’s top general after firing defence minister
Mr Syrskyi’s dismissal came days after Mr Zelensky fired Ukraine’s defence minister, Mykhailo Fedorov, a decision that sparked protests across the country.
Heading 1
FG awards 37 oil, gas blocks to 31 firms
A total of 143 companies submitted 200 bids for 37 of the 50 oil and gas blocks originally put on offer.
States
Edo assembly passes revenue harmonisation bill, targets unified IGR
The bill was approved following its third reading during plenary.
Hot news Home top
 Burna Boy ranked as Africa’s best-selling artiste with 14.46 million equivalent album units
The 14.46 million equivalent album units were derived from a combination of album sales, physical and digital single sales, and streaming equivalents.
Economy
Investors gain as market capitalisation crosses N159 trillion mark
The performance marked the third consecutive trading session of gains.
Abuja
ICPC hands over forfeited $65 million housing project to FMBN
The ICPC handed over 27.92 hectares of forfeited land linked to a diverted $65 million housing project to the Federal Mortgage Bank of Nigeria.
