Home Markets Equities market’s cap down N59bn

Equities market’s cap down N59bn


Trading activities on the floor of the Nigerian Stock Exchange (NSE) on Tuesday, closed negative as the All Share Index (ASI) declined by 0.48 percent, to stand at 33,449.17 points from the previous close of 33,611.69 points on Monday.

Market capitalisation also fell by 0.48 percent, closing at N12.212 trillion as against the previous close of N12.271 trillion.

This is even as the volume and value of traded stocks appreciated by 9.48 percent and 17.74 percent, to close at 150.6 million units and N1.5 billion respectively.

At the close of today’s trading, the price movement chart showed that 14 stocks closed positive while 30 stocks recorded losses.

Law Union led price gainers, closing at 10.00 percent above the previous close of N0.50 to settle at N0.55 per share. Nestle grew 9.59 percent while Regency Alliance and NEIMETH grew 9.52 percent and 9.09 percent respectively ahead of other stocks on the gainers’ chart.

Dangote Sugar and NAHCO top the losers’ chart, after losing 10.00 percent each, of their share prices. Universal insurance and Sunu Assurance also lost 9.09 percent each of their share prices among other stocks on the losers chart.

Analyst at Afrinvest said the current bearish performance would be sustained as elections draw closer. They, however, expect a “resurgence after the election euphoria settles.

Given current pricing in the market, we envisage opportunities for investors to take advantage of, albeit with a minimum investment horizon of a year,” they noted.