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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

Equities Market Drops N180 billion to Abysmal Stock Performance

Stock Market: Investors Lose N190bn At End Of Trading Day

Equities trading at the Nigerian Stock Market on Tuesday, November 8, closed for the fifth consecutive day in the south as the value of the bourse took a deeper plunge.

As such, Market capitalisation of the bourse depreciated to N9.075 trillion, following a loss of N180 billion in the course of the day’s trade.

The negative run came as a result of value depreciation recorded by Dangote Cement, which lost N8.42 or 4.88 percent to close at N164 per share.

Also other highly capitalised stocks, such as, Forte Oil, WAPCO, Okomu oil and UACN contributed to the losses recorded on the bourse.

Market breadth closed negative, with 13 gainers paired against 26 losers, with Champion Breweries heading the losers’ chart by 9.47 percent, to close at N2.39 per share. While Glaxosmithkline and CAP Plc recorded the highest gain of 5.00 percent each to close at N15.75 and N34.02 per share respectively.

Transactions in the shares of Chams Plc topped the activity chart with 40.1 million shares valued at N20.1 million. UBA Plc followed with 28.6 million shares worth N122.8 million, while Transcorp Plc traded 18.0 million shares valued at N16.1 million.

Guaranty Trust Bank Plc with the trade of 16.8 million shares worth N359.8 million bagged the fourth position on the activity chart, while Zenith Bank Plc came fifth having sold 14.1 million shares valued N207.7 million.

Market performance as measured by the total volume traded, surged by 64 percent to 189.01 million units valued at N1.6 billion transacted in 3,434 deals in contrast to 115.04 million shares, valued at N1.16 billion, traded in 2,963 deals on Monday.

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