Again, Nigeria’s Equity Market Dips N293bn

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Trading activities on the floor of Nigerian Exchange Tuesday sustained a downward trend, shedding N293 billion.

Market capitalisation of listed equities declined by 0.79 per cent to N36.538 trillion from N36.831 trillion reported the previous day.

The NGX All Share Index also depreciated by 535.98 basis points to 66760.20 points from 67296.18 points it opened on Monday.

An analysis of the investment showed that Chellaram Plc and CWG led gainers table, gaining 10 per cent each to close at N3.19 and N6.93 per share respectively.

Vitafoam Nigeria Plc followed with a gain of 9.78 per cent to close at N24.70 per unit, Oando Plc added 9.47 per cent to close at N9.25 per unit while Wema Bank added 8.94 per cent to close at N5.12 per share.

On the contrary, Tranzact and Ragal Insurance topped losers chart, dropping by 10 per cent each to close at N8.10 and N0.36 per share respectively.

Nascon and Dangote Sugar Refinery trailed with a loss of 9.96 per cent each to close at N47.00 and N52.00 respectively while Unity Bank fell by 9.92 per cent to close at N1.09 per share.

Volume of trades increased by 125.407 million, representing 24.11 per cent as investors traded 645.540 million shares valued at N11.014 billion in 10.554 deals against 520.133 million shares valued at N8.334 billion in 9914 deals.

Transactions on the shares of Transnational Corporation of Nigeria led  market activities with 87.823 million shares valued at N491.690 million, United Bank for Africa followed with account of 75.849 million shares valued at N1.035 billion, AccessCorp traded 69.448 million shares worth N1.052 billion, Fidelity Bank exchanged 48.322 million shares worth N387.343 million, GTCO Plc traded 39.708 million shares cost N1.326 billion .

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