Equities investors lose N133bn as market closes negative

Nigerian Equities Market extend negative stance three consecutive days as All Share Index shed 1.06 per cent to settle at 23,695.90 basis points at the close of trading on Tuesday, leaving the year to date return at -11.72 per cent.

Similarly, the Market capitalisation of equities on the Nigerian Stock Exchange (NSE) dipped to N12.48 trillion, having shed N133 billion.

Market breadth was unimpressive as the bull struggled to stay afloat with 14 counters, while the bear led with 15 counters on the decliners chart.

Caverton and Arbico were the top losers of the day, having shed ten per cent and 9.7 per cent respectively; while Neimeth Pharmaceuticals and NPF Microfinance Bank were the top gainers of the day.

The sectoral performance was negative, following losses in the Industrial Goods (-1.8%), Insurance (-0.6%), Banking (-0.3%) and Consumer Goods (-0.02%) indices, while the Oil and Gas index was flat.

Market Activity dwindled further as the volume of trades recorded a total of 156 million shares, a 24.85 per cent drop from 207 million shares traded in the previous session. Value followed suit to close downbeat by 5.66 per cent from the previous session of N1.775 billion to N1.675 billion on Tuesday.

In order of appearance, FBN Holdings, UACN, Guaranty Trust Bank, Zenith Bank and MBenefit ended the trading day as top performers in terms of volume while Dangote Cement, Guaranty Trust Bank, MTN Nigeria, Zenith Bank and FBN Holding made up the top five performers in terms of the value of units traded.

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