The stock market on Tuesday, February 16, recorded a massive loss after profit takers took over trading activities on the Nigerian bourse to take advantage of increase in stocks in the last six trading days.
The equities market closed on a negative note, as market capitalization of entire 190 equities listed slumped by N108 billion from N8.539 trillion to end with N8.431 trillion.
However, the year to date returns currently stands at -14.41 per cent.
Market turnover closed positive as volume moved up by 2.62 per cent against 9.01 per cent decline recorded in the previous session.
Portland Paints Plc led the list of active stocks that recorded impressive volume spike at the end of the trading session.
Banking stocks were the toast of investors at the end of yesterday’s trading as Guaranty Trust Bank Plc traded 100.477 million worth N1.658 billion, followed by Zenith Bank Plc with 35.906 million with N413.631 million.
Fidelity Bank Plc traded 33.897 million valued at N43.724 million and FCMB Plc transacted 15.000 million at N58.497 million. Zenith Bank Plc and Guaranty Trust Bank Plc topped market value list.
On the top of gainers’ log was GlaxoSmithKline Plc with a gain of N1.04 kobo to close at N21.93 kobo, followed by Portland Paints Plc with N0.16 kobo to close at N3.90 kobo, FBN Holdings Plc with N0.14 kobo per share to close at N3.91 kobo.
On the other hand Dangote Cement Plc topped the losers chart with N5.99 kobo to close at N146.00 kobo, 7-Up Bottling Company Plc with N4.50 kobo to close at N170.00 kobo per share, and Nestle Nigeria Plc with N3.00 kobo loss to close at N667.00 kobo per share.
