Market index drops by 1.42%

Transactions on the Nigerian Stock Exchange (NSE) closed lower on Tuesday with the market indices dropping by 1.42 per cent.

The market capitalisation depreciated by N181 billion or 1.42 per cent to close at N12.522 trillion against N12.703 trillion achieved on Monday.

The market capitalisation decline was as a result of price losses recorded by some blue chips.

The All-Share Index lost 564.97 basis points or 1.42 per cent to close at 39,130.37 compared with 39,695.34 posted on Monday.

Analysis of the price movement indicated that Guinness led the losers’ chart with a loss of N11.99 to close at N235.01 per share; while Mobil lost N3.60 to close at N115.05 per share.

Lafarge Wapco dipped by N1.50 to close at N105.50, while Northern Nigeria Flour Mill depreciated by N1.21 to close at N23.16 per share.

On the other hand, International Breweries led the gainers’ table, appreciating by N1.35 to close at N28.39 per share.

PZ Cussons trailed with a gain of 82k to close at N36.45, while Nasco rose by 64k to close at N13.49 per share.

Union Dicon gained 47k to close at N10.04, while CCNN grew by 46k to close at N9.98 per share.

The volume of shares traded increased by 134.79 per cent with 622.47 million shares worth N4.22 billion traded against the 265.12 million shares valued at N2.86 billion recorded on Monday.

FCMB was the toast of investors, accounting for 228.09 million shares worth N729.85 million.

Unity Bank came second on the activity chart with 69.49 million shares valued at N35.72 million, while Access Bank sold 50.06 million shares worth N478.36 million.

ETI traded 37.67 million shares worth N553.92 million, while Sky Bank sold 32.85 million shares valued at N131.66 million.