Stock Investors Lose Another N52.1b as NSE Extends Decline

Forex Market
  • Stock Investors Lose Another N52.1b as NSE Extends Decline

Nigerian stock investors on Tuesday recorded another loss as the Nigerian Stock Exchange (NSE) declined by N52.1 billion following a decline of N160 billion recorded on Monday.

The market capitalisation of listed equities decreased from N14.70 trillion recorded on Monday to N14.65 trillion while the NSE All-Share Index dropped 0.35 percent to close at 28,432.27 basis points. Draging the year-to-date return to 5.9 percent, up from almost 11 percent recorded in January.

Activity level on the bourse was mixed as the volume traded grew by 3.4 percent to 254.86 million units while the total value traded declined by 3.1 percent to N3.04 billion.

Zenith bank once again led the most traded stocks by volume with 68.5 million units. Followed by FBN Holdings Plc 32.7 million units and Access Bank Plc came third with 28.8 million units.

In terms of value traded, Zenith Bank also led with 3 billion, GTBank came second with N384.7 million and Access Bank did N259.5 million to emerge third.

Like on Monday, all indices closed in the red except the AFR-ICT index that was unchanged.

“For the rest of the week, we expect corporate earnings release to dictate the direction of the equities market,” analysts at Afrinvest Securities said.

About the Author

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

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