Stock exchange market capitalisation depreciates by 0.09%

Salamatu Ejembi, Lagos

The logo of the Nigerian Stock Exchange (NSE)

The domestic equities market has in today’s trading shed 0.09% or 24.25 basis points to close the day at 26,365.83 basis points as against previous closing of 26,390.08 basis points attained on Monday.

The Market Capitalisation stood at N12,835 trillion on Tuesday, 0.09 percent or 12 billion Naira less of Monday’s close of 12,846 trillion Naira.

Cordros Securities attribute the day’s fall to sell-offs of MTN NIGERIA COMMUNICATIONS PLC and DANGOTE CEMENT PLC.

Nevertheless, the total volume of trade increased by 182.29% to 694.02 million, valued at N7.83 billion and exchanged in 2,780 deals. Compared with 245,853 million units of shares worth N1,362 billion Naira traded in 2,514.00 deals.

ZENITH BANK PLC was the most traded stock by volume and value at 357.22 million units and N6.18 billion respectively.

Sector performances were mixed, as the Industrial Goods Index gained 0.19% and Banking Index gained 0.03%; the Consumer Goods Index declined by 0.03% and Insurance Index declined by 0.32%; while the Oil and Gas Index closed flat.

Market sentiment, as measured by market breadth, was negative at as 12 tickers recorded declines relative to 11 gainers. While on Monday, only 9 stocks appreciated in price with 15 stocks depreciating in price.

ETERNA PLC fell by 9.52% and MAY & BAKER NIGERIA PLC fell by 8.68%, recording the largest declines while COURTEVILLE BUSINESS SOLUTIONS PLC increased by 10.00% and CUTIX PLC increased by 9.92%, recording the largest gains.

Peace PIAK