NSE Loses N27.91bn as Bearish Trend Persists

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  • NSE Loses N27.91bn as Bearish Trend Persists

The Nigerian Stock Exchange (NSE) resumed bearish trend on Tuesday following a slight gain on Monday.

The NSE All-Share Index lost 0.21 percent to close at 27,058.62 on Tuesday, down from 27,177.22 recorded on Monday.

While the market capitalisation of listed equities dipped by N27.91 billion to N13.186 trillion. Again, down from N13.214 trillion.

The bourse has so far lost 13.91 percent year-to-date.

Berger Paints Plc led gainers with 9.49 percent, followed by UACN PLC, 9.38 percent; Access Bank, 6.56 percent; Dangote Cement, 0.91 percent; and Nestle, 0.66 percent.

On the other hand, PZ Cussons Nigeria Plc led losers with a decline of 8.33 percent, while NCR Nigeria Plc followed with 5.17 percent; Conoil, 4.82 percent; MTN Nigeria, 4.40 percent, and Union Bank Nig. Plc, 2.14 percent.

Dangote Cement gained N1.50k from N164.5 it closes on Monday to close at N166 per share and N2.83 trillion market value ahead of MTN Nigeria’s N2.69 trillion.

MTN Nigeria Communications Plc displaced Dangote as the most valuable listed company in Nigeria on Monday with a market capitalisation of N2.82 trillion but after losing N6.1 or 4.40 percent on Tuesday, the telecommunication giant lost the number one position to Dangote Cement.

Activity level was low as a total of 209.6 million shares valued at N3.24 billion were traded in 3,743 deals.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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