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  • Business - Market Data
  • Updated: 3 weeks ago

Investors Trade Cautiously As Market Continues Bearish Run

Investors Trade Cautiously As Market Continues Bearish Run

Momentum on the Nigerian stock market was little changed on Tuesday, as the sharp bearish run made investors trade with caution to control risk exposure. 

Specifically, the market capitalisation lost N1 billion to close at N19.724 trillion as the All-Share Index dropped 0.65 points to close at 37,857.24.

Investor interest in major stocks diminished as there was price depreciation in large and medium capitalised companies such as Custodian Investment, FBN Holdings, PZ Cussons Nigeria, Zenith Bank, and Guaranty Trust Holding Company (GTCO).

However, the market closed on a positive note with 17 gainers against 13 laggards.

NCR championed the gainers’ chart in percentage terms with 9.64 percent to close at N2.73 per share.

Wema Bank followed closely with 9.46 percent to close at 81kobo, while FTN Cocoa Processors grew by 8.33 percent to close at 39kobo per share.

NPF Microfinance Bank rose by 6.88 percent to close at N1.71, while Lasaco Assurance gained 6.67per cent to close at N1.60 per share.

On the other hand, Ikeja Hotel led the losers’ chart in percentage terms by 9.09 percent to close at N1.40 per share.

Custodian Investment trailed with 6.15 percent to close at N6.10, while Japaul Gold and Ventures lost 5.66 percent to close at 50kobo per share.

Mutual Benefits Assurance lost 4.76 percent to close at 40k, while FBN Holdings shed four percent to close at N7.20 per share.

Wema Bank topped the activity chart with 37.19 million shares valued at N28.06 million. GTCO followed with 27.91 million shares worth N823.19 million, while UPDC Real Estate Investment Trust traded 13.85 million shares valued at N19.56 million.

Fidelity Bank sold 12.16 million shares worth N28.36 million, while United Bank for Africa transacted 9.58 million shares worth N72.20 million.

The total volume of trades rose by 5.4 percent to 197.28 million shares valued at N1.92 billion exchanged in 3,567 deals.

TOP 5 MARKET GAINERS
Top Gainer
Index Opening Price Closing Price Change % Day’s High Day’s Low
CUTIX PLC 5.00 5.50 10.00 5.50 5.10
VERITAS KAPITAL ASSURANCE PLC 0.23 0.25 8.70 0.25 0.25
SMART PRODUCTS NIGERIA PLC 0.24 0.26 8.33 0.26 0.26
TRIPPLE GEE AND COMPANY PLC 0.90 0.97 7.78 0.97 0.90
PRESCO PLC 70.00 72.60 3.71 72.60 72.60
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