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Equity market sustains downward trend, shedding N90bn

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Trading activities on the floor of Nigerian Stock Exchange (NSE) Tuesday sustained downward trend, shedding N90 billion.

Market capitalisation of listed equities declined by N90 billion or 0.59 per cent to N15.132 trillion from N15.222 trillion reported the previous day.

The NSE All Share Index (ASI), also fell  by 174.36 basis points to 29378.63 points from 29552.99 points reported on Monday

Meanwhile investors traded 250.931 million shares worth N4.829 billion in 4561 deals against 444.037 million shares valued at N3.349 billion exchanged hands in 4306 deals.

A review of transactions for the day showed that Julius Berger led gainers table, increasing by N2.00 to close at N22.15 kobo, Nahco  followed with a gain of N0.26 kobo to close at N2.95 kobo, NEM Insurance appreciated by N0.20 kobo to close at N2.40 kobo, Vitafoam Nigeria PLC added N0.20 kobo to close at N5.50 kobo while Afri Prudentia gained N0.07 kobo to close at N4.67 kobo.

On the contrary, Total Nigeria Plc topped losers chart, shedding N10.00 to close at N107.00, Flour Mills Nigeria PLC trailed with a loss of N1.30 kobo to close at N21.15 kobo, Guaranty Trust Bank (GTB) sheds N1.10 kobo to close at N31.00, Stanbic IBTC fell by N1.00 to close at N41.50 kobo Glaxosmith Kline down by N0.55 kobo to close at N5.45 kobo.

The result further showed that Stanbic IBTC was the most active stock during the day, exchanging 43.035 million shares worth N1.785 billion , Zenith Bank Plc followed with account of 34.289 million shares cost N724.082 million, United Bank for Africa traded 18.569 million shares valued at N151.434 million, Fidelity Bank trade 17.625 million shares worth N37.825 million while exchanged a total of 15.124 million shares valued at N467.873 million.

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