The Nigerian Equity Market on Tuesday,September slipped back into the Red Zone after a two-day comfortable stay in the Greens.
As such, the market capitalisation closed for the day at N9.704 trillion following a loss of N5 billion in contrast to N5.5 billion gained previously when Market Capitalisation closed at N9.709 trillion.
The downturn was as a result of the price depreciation recorded in some large capitalized stocks amongst which are Presco, Seven Up, Forte Oil, Guaranty Trust Bank and Cadbury Nigeria.
Market breadth closed negative with 18 gainers and 20 losers. UAC Property led the gainers table by 10 per cent to close at N3.74 per share.On the other hand, Ashaka Cement led the laggards’ table by 9.67 per cent to close at N18.02 per share.
Transactions in the shares of Livestock topped the activity chart with 104.6 million shares valued at N89.96 million. FCMB followed with 43.92 million shares worth N46.82 million, while UBA traded 20.15 million shares valued at N84.51 million.
Meanwhile, the total volume traded surged by 18.1 per cent to N294.91 million shares, valued at N1.41 billion, and exchanged in 3,142 deals.
