Stock Market Closes Southward For Second Consecutive Day

Trading activities on the Nigerian stock exchange Increased significantly on Tuesday as investors bought 386.77 million shares worth N4.79 billion, in 5,100 deals, compared to 191.70 million shares worth N2.80 billion, in 4,483 deals exchanged on Monday. Fidelity Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc were the most actively traded stocks on the exchange today in terms of volume, while Guaranty Trust Bank Plc and Ecobank Transnational Incorporated, topped in terms of value.

The Nigerian Stock Exchanges-All Share Index depreciated by 0.92% (-369.58) to close at 39,681.71 from 40,051.29 attained on Monday. Market capitalisation also decreased to N13.10 trillion from N13.22 trillion the previous trading day. The BGL 50 Index also followed suit with a 0.99% loss to close at 170.84 from 172.55, while the market capitalisation stood at N12.32 trillion from N12.44 trillion recorded on Monday.

A total number of 14 stocks gained on the bourse today while 39 stocks declined leaving 59 stocks unchanged. Ikeja Hotel Plc emerged the toast of investors as it appreciated by 9.93% to close at N3.21kobo, followed by May and Baker Plc with a 9.71% gain to close at N1.92. Others on the gainers chart include Courteville Business Solutions Plc, Custodian and Allied Insurance Plc and Golden Guinea Brew.Plc. On the flip side, Continental Reinsurance topped the losers chart with 5.00% declines to close at N0.95, followed by Seplat Petroleum Dev. Co. Ltd which also declined by 5.00% to close at N577.16kobo. Others on the losers table include Zenith Bank Plc, Champion Brew.Plc and Africa Prudential Registrars Plc.

Topping the chart for the BGL 50 stocks, Custodian and Allied Insurance emerged the toast of investors as it appreciated by 5.00% to close at N4.20 kobo, followed closely by Mansard Insurance Plc which appreciated by 4.68% to close at N2.91 kobo others on the gainers chart include Dangote Cement Plc FCMB Group Plc, and Cadbury Nigeria Plc.

On the flip side Continental Reinsurance Plc topped the losers chart with 5.00% decline to close at N0.95 followed by Seplat Plc which declined by 5.00% to close at N577.16 kobo. Others on the losers table include; Zenith Bank Plc, Transcorp Plc and UBA Plc.

Author: News Editor

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