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NIGERIA: Volatility Continues At NSE As Market Losses N5bn

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The floor of the Nigerian Stock Exchange (NSE) on Tuesday continued on a downward slide after dropping shares by N5billion.

At the trading floor, the market capitalisation of listed equities declined further by 0.05 per cent to N10.948 trillion from N11.953 trillion that was reported on Monday.

According to reports, the NSE All-Share Index also experienced a decline by 12.78 basis points to 29149.46 points from 29162.24 points which were traded the previous day.

However, Investors at the NSE traded a turnover of 374.026 million shares worth N3.057 billion in 3634 deals, against 455.875 million shares valued at N5.254 billion which was traded the previous day in deals of 3993.

The NSE trading result during the day showed that Stanbic IBTC led the top gainers table, increasing by N2.80 kobo to close at N46.00, which was closely followed by Guaranty Trust Bank with a gain of N2.45 kobo to close at N34.00, Nigerian Breweries also made a gain of N0.20 kobo to close at N60.20 kobo, Access Bank added N0.10 kobo to close at N5.70 kobo, while May and Baker Nigeria Plc grew by N0.08 kobo to close at N2.38 kobo.

On the flip side Nascon recorded the highest loss during the day, dropping by N0.95 kobo to close at N19.05 kobo, also Ecobank Transnational Incorporated trailed with a loss of N0.75 kobo to close at N10.50 kobo, Dangote Cement industry Plc fell by N0.50 kobo to close at N185.00, Dangote Sugar Refinery Nigeria Plc also sheds N0.30 kobo to close at N13.45 kobo, NEM Insurance down by N0.23 kobo to close at N2.10 kobo.

To close the day’s report at the NSE, a review of the investment showed that Sterling Bank Plc accounted for 119.718 million shares worth N311.311 million, Chams Plc followed with 50.233 million shares valued at N14.060 million, FBNHoldings traded 44.585 million shares cost N323.135 million, also United Bank for Africa exchanged 26.934 million shares worth N161.941 million while Guaranty Trust Bank sold 24.072 million shares valued N787.990 million.

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