Investors lose N28 billion as relentless profit-taking stretches bear run

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Investors lose N28 billion as relentless profit-taking stretches bear run



The Nigerian equity market was down by 0.13 per cent on Tuesday as the bear showed no sign of loosening its stranglehold on trade, costing investors N28.329 billion.
NNFM, NEM, Niger Insurance, Japaul Gold and Multiverse accounted mostly for the depreciation in a trading session that saw the bourse posting losses across its five sectorial indices.
Market breadth was neutral as there were 23 gainers against 23 laggards.
The All Share Index (ASI) slid to 41,510.26 index points while market capitalisation edged lower at N21.716 trillion.
Year to date, the index is down by 3.08 per cent.
TOP FIVE GAINERS
Champion Breweries led the gainers’ chart, appreciating by 10% to close at 2.75. Morison went up by 10% to N0.55. RT Briscoe rose to N0.22, notching up 10% in the process. Linkage Assurance added 10% to end today’s trade at N0.66. Wema completed the top 5, climbing by 7.69% to N0.70.
ALSO READ: NSE: Investors lose N112bn amid worsening market sentiment
TOP FIVE LOSERS
NNFM was the worst performing stock, declining by 9.94% to close at N7.79. NEM shed 9.20% to close at N2.27. Niger Insurance fell to N0.20, losing 9.09%. Japaul Gold slumped to N0.72, recording 8.86% depreciation. Multiverse closed at N0.24, going down by 7.69%.
TOP FIVE TRADES
In all, 305.928 shares estimated at N3.952 billion were traded today in 4,969 deals.
FBN Holdings was the most active stock for with 47.763 million units of its stocks worth N351.057 million traded in 227 deals. 37.245 million units of Guinness shares priced at N732.329 million exchanged hands in 137 transactions. RT Briscoe had 26.831 million shares valued at N5.899 million traded in 15 deals. Zenith traded 25.075 million shares estimated at N651.002 million in 445 transactions. Sterling Bank traded 38.151 million shares valued at N1.174 billion in 240 deals.

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