Tuesday, August 9, 2022

Nigerian stocks lose N518 billion as bearish trend continues

Guiness Plc topped the losers’ chart, dropping by 10 per cent to close at N88.20 per share.

• May 24, 2022
Nigerian Exchange
Nigerian Exchange [Photo Creadit: Business Live Nigeria]

The negative sentiment continued on the Nigerian Exchange Ltd. on Tuesday with the market capitalisation declining further by N519 billion to close at N28.006 trillion against N28.525 trillion on Monday.

In the same vein, the All-Share Index lost by 1.82 per cent to close at 51,949.64 compared with 52,911.51 recorded on Monday.

However, the volume of shares traded on Tuesday appreciated by 25.44 per cent.

Specifically, investors traded 720.19 million shares worth N8.867 billion achieved in 6,096 deals.

This was in contrast with 263.34 million shares valued at N3.55 billion exchanged in 4,856 deals on Monday.

An analysis of the activity chart shows that Ecobank Transnational Incorporated (ETI) Bank was the most active stock, exchanging 257.63 million shares worth N2.96 billion.

Jaiz Bank came second with an account of 78 million shares valued at N69.74 million, while AccessCorp traded 60.52 million shares worth N605.03 million.

UACN accounted for 52.17 million shares valued at N673.07 million, while Transcorp sold 31.42 shares worth N39.69 million.

Guiness Plc topped the losers’ chart, dropping by 10 per cent to close at N88.20 per share.

GSPEC Plc trailed with a decline of 9.77 per cent  to close at N2.77, Mansard dipped by 9.73 per cent to close at N2.04 per share.

Chams was down by 8.70 per cent to close at 0.21 per cent, while Veritas Kapital also lost 8.70 per cent to close at 21k per share.

Conversely, Japaul Oil recorded the highest price gain to lead the gainers’ table, gaining 10 per cent to close at 3k per share.

IMG followed with 9.89 per cent  to close at N10, while MRS Oil garnered by 9.70 per cent to close at N16.40 per share.

Abbey Buildings improved by 9.09 per cent to close at N1.80, while Academy Press gained by 8.15 per cent to close at N1.45 per share.

(NAN)

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