NSE: Market index drops by 1.13%

Investors on the Nigeria Stock Exchange (NSE), yesterday traded a total of 398.894 million shares worth N2.80 billion in 4,579 deals.

The volume represents an increase of 65.04 per cent over the 241.692 million shares valued at N3.87 billion exchanged in 4,434 deals on Monday.

The All-Share Index, which opened at 38,724.15, dipped further by 437.59 points or 1.13 per cent to close at 38,286.56 as a result of price losses sustained by some highly capitalised stocks.

Also, market capitalisation depreciated by N145 billion or 1.13 per cent to close at N12.681 trillion against the N12.826 trillion posted on Monday. Nigerian Breweries topped the losers' chart, depreciating by N4.91 to close at N162.09 per share. Guinness trailed with a loss of N4.64 to close at N171.86, Wapco dipped by N2.40 to close at N122.60 per share.

Union Homes Real Estate Investment Trust dropped N2.37 to close at N45.22, while Forte Oil depreciated by N1.70 to close at N217 per share.

On the other hand, Mobil led the gainers' chart with a gain of N9.48 to close at N170.98 per share. It was followed by Seven Up which gained N8.97 to close at N188.52, while CAP inched by N1.50 to close at N42.50 per share. Oando gained 38 kobo to close at N23.90, while Evans Medical rose by 10 kobo to close at N2.14 per share.

Multiverse was the most active equity with 200 million shares worth N100 million. Transcorp came second, accounting for 25.27 million shares valued at N122.27 million while FBN Holdings sold 23.1 million shares worth N277.78 million.

Consolidated Hallmarks Insurance traded 23.1 million shares valued at N277.78 million, while investors staked N10 million on 20 million shares of UBA.