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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

Stock Market Shrinks by N13billion on Intense Profit Taking

 

As bear tightened its reins on activities at the Nigerian Stock Market, for the eighth consecutive day,the bourse recorded a fresh bout of losses on Tuesday, November 22.

Following intense profit taking embarked upon by investors, market capitalisation of the bourse depreciated by N13billion.
 Total topped the losers’ chart dropping N13.45 to close at N255.58 per share. While Mobil Oil topped the advancers’ chart with a gain of N5 to close at N195.01 per share.

Diamond bank was the toast of investors with a total of 18.33 million shares valued at N16.56 million. Access Bank accounted for 14.64 million shares worth N80.76m and Transcrop sold 13.71m shares valued at N9.20m. Skye Bank exchanged 10.12m shares worth N5.07m, while FBN Holdings traded 7.65m valued at N23.06m.

Despite the dip in the market indices, the volume of shares traded closed higher as investors bought and sold 120.93m shares worth N1.19bn exchanged in 2,397 deals in contrast with a turnover of 112.44 million shares valued at N858.54m traded by investors in 2,532 deals on Monday.

 

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