NSE benchmark index depreciates by 0.61%

Salamatu Ejembi, Lagos

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The Nigerian equities market extended its bearish run as the benchmark index declined by 0.61% on Tuesday to close at 27,407.04 basis points.

This followed late investors sell-off on AIRTEL AFRICA PLC and CEMENT CO. OF NORTH.NIG. PLC compared to Monday’s 27,574.32 basis points.

Market Capitalisation which previously closed at N13,423 trillion, closed on Tuesday at N13,341 trillion, dropping by N82 billion or 0.61 percent.

Meanwhile, the total volume of trades decreased by -26.99% to 198.03 million units, valued at N2.90 billion, and exchanged in 3,830 deals as against Monday’s total volume of trades of 271.24 million units, valued at N2.91 billion and exchanged in 4,795 deals.

MTN NIGERIA COMMUNICATIONS PLC was the most traded stock by value at N974.44million, while ACCESS BANK PLC was the most traded by volume at 57.82 million units.

Analyzing sector performance, the Banking index which fell by 0.01 percent was the sole loser, while Industrial Goods index which appreciated by 0.57% and Consumer Goods index which gained 0.18 recorded gains. However, the Oil & Gas index was flat.

Market sentiment, as measured by market breadth, was positive as 22 stocks recorded gains relative to 15 losers.

AIRTEL AFRICA PLC  (-10.00%) and UACN PROPERTY DEVELOPMENT COMPANY PLC (-9.55%) topped the decliners list, while NEM INSURANCE PLC (+9.74%) and LIVESTOCK FEEDS PLC (+9.52%) recorded the largest gains.

Peace PIAK