Investors witnessed a drop in market capitalisation at the close of Tuesday’s trading session at the Nigeria Exchange Group Limited, NGX.
The second trading day of the week saw major market indices declined marginally by at 0.19 percent and N52 billion respectively, reversing the positive sentiment which has persisted in the stock market for 17 consecutive sessions.
The NGX All Share Index depreciated by 97.07 basis points representing a 0.19 percent decrease to close at 51, 805.41 compared to Monday’s 51,902.48.
Similarly, the market capitalisation declined by over N52 billion to close close at N27, 921 lower than the N27.981 trillion of the previous day.
The Volume of trade also dropped to 331.3 million shares in 6,689 deals from the 337.5 million shares which exchanged hands in 7,684 deals the previous day.
The market sentiment, when measured by market breadth, was however positive with 36 gainers’ and 13 losers’.
Leading the gainers’ chart with 10 percent increase on its share prices; May & Baker Nigeria Plc, MULTIVERSE and Okomuoil closed at N4.84k, N0.22k and N170.00. Champion Breweries followed with 9.81 percent gain to close at N0.03k.
On the flipside, NACOH led the losers’ chart with a 4.12 percent loss on its share price to close at N6 51k. Mutual Benefits Assurance Plc followed with a 3.85 percent loss to close at N0.25k, then Wema Bank Plc declined by 3.73 percent to close at N3.75k.
Mercy Chukwudiebere