Market Capitalisation Down By N91bn

kemi adeosun
Minister of Finance, Mrs. Kemi Adeosun

THE Nigerian equities market closed trade red on Tuesday as all indices shed weight to mark three days of loss after the announcement of the exit of Britain from the European Union (EU).

The major market indicator, All Share Index (ASI) depreciated by 0.89 per cent to close at 29,575.24 basis point as against 29,840.23 recorded at the close of trade on Monday, while market capitalisation closed at N10.2 trillion after it lost N91 billion.

Cautious trading dipped market turnover as volume declined by 31.97 per cent against 15.59 per cent decline recorded in the previous session.

Market breathe also closed on the negative side when compared with Monday outlook as 15 gainers emerged against 24 losers at the end of trading activities on Tuesday.

Specifically, blue chip stocks loss drove the indices down as Total Plc led the decliners on the chart, measured by value, as it lost N10 from its share price to close at N190 per share.

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Nestlé Nigeria Plc also shed N5.01 kobo from its share value to close at N849.99 kobo per share, while Nigerian Breweries Plc’s stocks depreciated to N140 per share having lost N4 from each unit.

Guiness Plc closed red at N106.4 per share after losing N3.50 kobo, while Guaranty Trust Bank Plc lost 68 kobo to end trade at N22.32 kobo per share.

NEM Insurance Plc led the list of active stocks that recorded impressive volume spike at the end of trading session as it staked 1.2 million shares in 18 deals.

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