Equities market drops by 0.18% on Tuesday


By Philemon Adedeji

Equities market of Nigeria Exchange Limited (NGX) on Tuesday closed on negative note to halt a day bullish sentiment.

The market loss that occurred yesterday was due to down turn in  price  in large and medium capitalized stocks amongst which are, Nahco, Mutual Benefit Assurance Wemabank, MTNN and 32 others

Basically, All shares index depreciated by 97.07 basis points to represent 0.18 per cent to close trade at 51,805.41 index points from 51,902.48 index points it closed trade on Monday.

Meanwhile,overall market capitalisation value dropped by N53 billion to close trade at N27.928 trllion from N27.981 trillion it closed trade on Monday.

In all, volume of share traded yesterday declined by 0.17 per cent as investors bought and sold 331.521 million units valued by N5.035 billion, exchanged in 6,689 deals.

However, investors sentiments as measured by market breadth closed negative as 36 stocks advanced, while 13 stocks declined.

On the gainers table, May & Baker, Okomu oil plc, Multiverse emerged as the overall best gainer which rose by 10 per cent increase to close trade at N4.84, N187, N0.22 per share respectively.

Champion breweries gained 9.81 per cent or 0.36 kobo to close trade at N4.03 per share and Mcnichols which recorded as the last fifth gainer appreciated by 9.78 per cent or 0.09 kobo increased to close trade at N1.01 per share.

On the decliners table, Nahco emerged as the highest decliners which dropped by 4.12 per cent or 0.28 kobo to close trade at N6.51 per share, Mutual Benefit Assurance dipped by 3.85 per cent to close trade at N0.25 per share.

While, Wemabank depreciated by 0.14 kobo or 3.73 per cent to close trade at N3.61 per share, MTNN went down by 3.61 per cent or 9 kobo to close trade at N240 per share and Regalins which recorded as the last fifth decliners declined by 0.01 kobo or 3.33 per cent to close trade at N0.29 per share

Transaction in the share of Guaranty Trust Holding Company topped the activity chart which transacted 51.963 million shares worth 1.228 billion, Transcorp followed which traded 41.337 million shares valued at 49.618 million.

First Bank Of Nigeria Holding traded 14.089 million shares worth 171.283 million, Oando plc transacted 13.596 million shares valued at 80.855 million shares while, Regalins transacted 11.976 million shares worth 3.311 million.

Guaranty Trust Holding Company recorded as the highest in terms of volume and value