Nigerian equity market dips further by 1.86%

The Nigerian equity market closed on Tuesday bearish, as the All-Share-Index (ASI) further declined by 1.86 per cent to 50, 442.37 points from 51, 400.53 points, which it posted on Monday.

This indicated a year-to-date (YTD) increased return of 18.09 per cent.

Similarly, the market capitalisation decreased by N516.70 billion to N27.20 trillion from N27.72 trillion recorded Monday.

The market breadth was negative as three stocks appreciated while 37 stocks declined.

The share prices of livestock gained 1.63 per cent to top the gainers’ list to close at N1.25 per share, while First Bank of Nigeria Holdings (FBNH) appreciated by 1.36 per cent to close at N11.15 per share.

Sterling Bank gained 1.32 per cent to close at N1.53 per share.

Conversely, Transnational Express declined by 10 per cent leading the losers’ chart to close at 63k per share.

International Breweries followed by 9.91 per cent to close at N5 per share.

MTN Nigeria dropped by 9.62.per cent to close at N192.50, while PZ shed 9.62 per cent to close at N9.40 per share.

Berger fell by 9.49 per cent to close at N6.20 per share.

The market turnover increased to N2.94 billion from N2.51 billion recorded on Monday.

Also, Flour Mills led the volume chart for the day as it traded 19.32 million shares worth N168.05 million.

Transcorp followed with 15.4 million shares worth N16.35 million.

Guaranty Trust Holding Company (GTCO) sold 12.69 million shares valued at N259.67 million, while Zenith Bank accounted for 11.39 million shares worth N243.69 million.

FBNH sold 9.95 million shares valued at N108.17 million. (NAN)