Stock market report: Market cap down by N29 billion

Trading activities on the Nigerian Stock Exchange (NSE) ended on a negative on Tuesday, as the market capitalisation, which opened at N13.739 trillion, lost N29 billion to close lower at N13.710 trillion in spite of higher volume of transactions.

Also, the All-Share Index lost 88.09 points or 0.21 per cent to close at 41,521.40 from the previous 41,609.50 ended on Monday.

A total of 1.41 billion shares worth N8.47 billion were traded in 5,686 deals against 229.330 million shares valued at N3.61 billion exchanged in 5,153 deals on Monday.

Dangote Cement topped the price losers’ chart with N2.40 to close at N226.60 per share.

Lafarge Wapco followed with a loss of N1.51 to close at N111.99, while GTBank dipped by N1 to close at N30.50 per share.

Market analysts attributed the situation to profit-taking by some investors following the growth recorded by the market.

Conversely, Nigerian Breweries topped the price gainers’ chart with N3.20 to close at N180 per share.

Conoil came second with N2.50 to close at N57, while Unilever gained N2.23 to close at N50.65 per share.

Transcorp was the toast of investors, trading 1.04 billion shares worth N4.68 billion.

Access Bank sold 83.65 million shares valued at N826.66 million, while Wapic Insurance sold 65.41 million shares worth N50.50 million.