Stock Market Sheds N12bn In Four-day Losing Streak

The equity market of the Nigerian Stock Exchange declined for the fourth straight day on Tuesday amid profit-taking activities.

The NSE All-Share Index dropped by 0.09 per cent as bargain hunters continued to take profits on recent gains.

The market breadth closed negative, with 13 losers against 22 gainers.

The ASI dipped by 23.44 basis points to close at 24,930.88bps as against 24,954.32bps in the previous trading session.

The market capitalisation of equities depreciated by N12bn from N13.02tn the previous day to N13.01tn as market sentiment remained in negative territory.

A turnover of 200.39 million shares was traded by investors in 4,194 deals on Tuesday.

The premium subsector was the most active (measured by turnover volume), with 74.93 million shares traded by investors in 1,604 deals. It was largely driven by activities in the shares of FBN Holdings Plc and Zenith Bank Plc.

The financial services subsector was boosted by the activities in the shares of FCMB Plc and United Capital Plc with a turnover of 28.14 million shares in 186 deals.

Fidson Healthcare Plc topped the gainers’ table on Tuesday with a gain of 10 per cent to close at N3.63 per share.

Skyway Aviation Handling Company Plc followed with an increase of 8.06 per cent to close at N2.95 per share, while Caverton Plc added 7.35 per cent to close at N2.19 per share.

On the other hand, Neimeth International Pharmaceuticals Plc led the losers with a drop of 9.91 per cent to close at N2.09 per share.

Prestige Assurance Plc lost 9.52 per cent to close at 57 kobo per share, while C&I Leasing Plc decreased by 9.38 per cent to close at N4.35 per share.