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Nigerian equity market dips further

Felix Oloyede

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Nigerian Exchange up 1.4% this week

Trading activities on the Nigerian Exchange (NGX) closed in the red for the second consecutive day on Tuesday as the All-Share Index shed 0.27% or 107.06 points to close at 39,219.61 points compared with Monday’s 39,326.27 points.

The market capitalization also dropped by N55 billion to close at N20,434 trillion as against N20,489 trillion on Monday.

The market sentiment closed negative too on Tuesday with 16 gainers relative to 27 gainers.

At the end of the day’s trading, investors exchanged 425.65 million shares valued at N1.96 billion in 4,533 deals.

Top on the gainers’ list for the day was Transcorp Hotels, which gained N0.47k to close at N5.17k. Next was Honeywell Flourmill with N0.38k gain to close at N4.28k and Morison Industries, which gained N0.18k to close at N2.03k.

On the flip side, the Nigerian Breweries led the losers’ chart after it lost N5.45k to close at N49.45k, followed by Livestock feeds with a loss of N0.23k to close at N2.11k. Lasaco Assurance lost N0.15k to close at N1.39k.

Transnational Corporation of Nigeria recorded the highest volume of 111 million traded shares, followed by Chams with 57.5 million traded shares.

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