NGX: Market capitalisation drops to N87trn
yarkarkara
The Nigerian stock market continued on a bearish trend on Tuesday, losing N623 billion.
Market capitalisation dropped by N623 billion, or 0.71 per cent, to close at N87.783 trillion, compared to N88.406 trillion recorded on Monday.
Similarly, the All-Share Index (ASI) dipped by 984.55 points or 0.71 per cent, reaching 138,737.64 from 139,722.19 recorded earlier.
The negative trend was driven by sustained profit-taking in stocks such as AIICO Insurance, Prestige Assurance, Wema Bank, Consolidated Hallmark Holdings, Ellah Lakes, and 44 other stocks.
Also, the market breadth closed negative with 49 losers against 11 gainers.
On the decliners’ table, AIICO Insurance Prestige Assurance, Wema Bank, and Consolidated Hallmark Holdings shed 10 percent each, closing at N3.42, N1.62, N20.70, and N3.87 per share, respectively.
Ellah Lakes also dropped by 9.93 per cent, settling at N11.43 per share.
On the gainers’ side, NCR Nigeria grew by 9.96 per cent, finishing at N12.70, while Austin Laz soared by 9.66 per cent, ending the session at N3.18 per share.
Tantalizer rose by 6.09 per cent, closing at N2.44, and Multiverse Mining increased by 5.50 per cent, settling at N11.50 per share.
Similarly, Deap Capital gained 4.68 percent, finishing at N1.79 per share.
A total of 407.6 million shares, valued at N39.9 billion, were traded across 31,406 transactions.
This is compared to 407.9 million shares valued at N14.78 billion that were exchanged in 33,859 deals earlier on Monday.
Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 32.6 million shares valued at N3.02 billion.
Access Corporation followed with 29.8 million shares worth N775.2 million, while AIICO Insurance traded 21.81 million shares valued at N76.6 million.
Ellah Lakes sold 20.5 million shares worth N235.9 million, and Sovereign Trust Insurance transacted 20.4 million shares valued at N56.5 million.
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