Market index drops by 0.92%

Trading on the Nigerian Stock Exchange closed on Tuesday on a negative note as the All Share Index fell by 0.92 per cent or 365.02 basis points to close at 39,199.41 basis points.

Similarly, the market capitalisation of the listed equities shed N117bn or 0.92 per cent to close at N12.591tn, down from N12.708tn the previous day.

The NSE 30 Index declined by 1.23 per cent or 22.01 basis points to close at 1,759.26 basis points, down from 1,781.27 points, while the NSE Insurance Index fell by 0.93 basis points or 1.34 basis points to close at 143.44 points.

The NSE Consumer Goods Index and NSE Oil and Gas Index also declined, shedding 4.22 per cent and 0.70 per cent to close at 973.54 basis points and 295.85 points, respectively.

The NSE Lotus Islamic Index recorded a marginal depreciation of 0.04 per cent to close 2,832.24 basis points.

However, the NSE Banking Index was up by 0.34 per cent or 1.31 basis points to close at 387.10 basis points, while the NSE Industrial Index appreciated by 1.34 per cent or 35.65 basis points to close at 2,598.38 basis points.

The NSE ASeM Index closed flat at 956.72 basis points. The banking sub-sector led the activity chart, accounting for 55.29 of total turnover traded.

Trading in the shares of Zenith Bank Plc and United Bank for Africa Plc drove volume in the sub-sector.

In all, investors traded 341.165 million stocks valued at N4.839bn in 4,993 deals on Tuesday with 25 shares making gains and 29 others recording losses.

Union Bank of Nigeria Plc topped the gainers’ table, rising by 5.28 per cent or 50 kobo to close at N9.97 per share. It was followed by the UACN Property Development Company Plc and Lafarge Wapco Plc which gained 4.90 per cent and 4.23 per cent to close at N20.97 and N110 per share, respectively.

Nigerian Breweries Plc on the other hand led the losers after it fell by 8.79 per cent or N13.98 to close at N145.01 per share; followed by Wapic Insurance Plc with a 5.49 per cent decline to close at 86 kobo per share.

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