Bearish market persists as NSE investors lost N122.34bn
Market closed negative by -59.08 percent as against 7.24 percent recorded in the previous session
Investors in the Nigerian Stock Exchange (NSE) lost N122.34 billion on Tuesday as equity capitalization slipped to N20.76 trillion at the end of trading.
Trading ended on the floor of the stock market on Monday with the equity capitalization standing at N20.89 trillion.
The volume of traded shares at the NSE also dropped to 222.57 million on Tuesday, below the 543.98 million shares investors traded the previous day.
The bears caused the All Share Index (ASI) to plunge by 0.59 percent to settle at 39,697.62 points compared to 39,931.63 reported on Monday.
4,470 deals completed a decline from the 4,673 deals sealed on Monday.
17 gainers recorded
Value of shares, however, increased from N1.81 billion to N5.39 billion at the end of trading.
ACADEMY share price increased from N0.41kobo to N0.45kobo following a gain of 9.76 percent in its share price.
PZ up by 9.38 percent moved from N4.8kobo to N5.25kobo.
BETAGLAS increased from N50 to N54kobo.
ROYALEX share price rose by 8 percent to end trading at N0.27kobo from N0.25kobo.
REGALIN recorded 7.69 percent growth and moved from N0.26kobo to N0.28kobo per share at the end of trading.
MBENEFIT down 10 percent in share price to drop from N0.4kobo to N0.36kobo at the end of trading.
ARDOVA share price dropped from N18.05 to N16.25kobo.
CHAMPION share price plunged by -9.69 percent to end trading at N2.05 per share from N2.27kobo.
INITSPLC share price declined from N0.52kobo to N0.47kobo per share after losing 9.62 percent in share price during trading.
STELNBANK fell by N0.14kobo to end trading at N1.46kobo per share having opened trade with N1.6kobo.
TOP 5 TRADES
Zenith Bank was the most active stock on Tuesday as investors traded 48.10 million shares valued at N1.23 billion.
UCAP shares were traded at a volume of 20.23 million and valued at N121.97 million.
MBENEFIT was next with 19.44 million shares traded at a cost of N7.22 million.
JAPAUL GOLD 17.05 million shares worth N10.48 million
MANSARD recorded over 8.97 million traded shares at a value of N9.37 million.