Stock Market Shareholders Lose N108billion to Forex Suspension

Trading activities in the equity segment of the Nigerian Stock Exchange, NSE,  plummeted on Tuesday on Tuesday, January 12 when investors flooded market with supply as stocks tumbled further.

Market capitalization which opened at N9.062 trillion slid by N108 billion to close at N8.954 trillion.

The NSE All Share Index depreciated by 1.20 per cent to close at 26,034.93 basis points, compared with the 2.51 per cent depreciation recorded previously.

Market breadth closed negative as May & Baker led 9 gainers against 31 losers topped by FBN Holdings at the end of the trading session which was an improved performance when compared with previous outlook.

Market turnover closed positive as volume moved up 74.87 per cent against 48.80 per cent decline recorded in the previous session. Guaranty Trust Bank, FBN Holdings and UBA were the most active to boost market turnover.

7-Up Bottling Company and Guaranty Trust Bank top market value list. Top on gainers’ log was Portland Paints Plc with a gain of N0.19 kobo to close at N4.13 kobo, followed by Eterna Plc with N0.08 kobo to close at N1.69 kobo, Access Bank Plc with N0.05 kobo to close at N4.60 kobo per share, and May & Baker Plc with a gain of N0.05 kobo to close at N1.05 kobo per share. On the other hand P. Z. Plc topped losers chart with N1.08 kobo to close at N21.13 kobo, Ashaka Cement Plc with N0.96 kobo to close at N24.24 kobo per share, Cadbury Nigeria Plc with N0.81 kobo to close at N15.49 kobo and Guaranty Trust Bank Plc with N0.65 kobo loss to close at N17.25 kobo per share.