Home Business Equities Market Drops by N4bn over Investors’ Profit-Taking

Equities Market Drops by N4bn over Investors’ Profit-Taking

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Activities on the equities market of the Nigerian Stock Exchange (NSE) closed on a downward trend on Tuesday, September 15, with the market capitalisation dropping by N4 billion.

Specifically, the market capitalisation lost N4 billion to close at N13.354 trillion compared with N13.358 trillion achieved on Monday. In the same vein, the All-Share Index lost 7.63 basis points or 0.03 per cent to close at 25,597.96 basis points against 25,605.59 basis points on Monday.

The downturn was impacted by loses recorded in large and medium capitalised stocks, amongst which are; Seplat, Red Star Express, Dangote Sugar Refinery, Oando and NPF Microfinance Bank.

Consequently, market sentiment, as measured by the market breadth closed negative with 13 gainers in relative to 15 losers. NPF Microfinance Bank led the losers’ chart in percentage terms, losing 9.42 per cent to close at N1.25 per share.

Union Diagnostic trailed with a loss of 7.41 per cent to close at 25k, while Red Star Express dipped 6.13 per cent to close at N3.52 per share. Nigerian Aviation Handling Company lost 6.10 per cent to close at N2, while Oando shed 5.46 per cent to close at N2.25 per share.

Conversely, Ikeja Hotel dominated the gainers’ chart in percentage terms, appreciating by 9.52 per cent to close at 92k per share. UACN Property came second with 9.20 per cent to close at 95k, while Cornerstone Insurance rose by 6.45 per cent to close at 66k per share.

Japaul Oil rose by five per cent to close at 21k, while Lafarge Africa rose by 3.45 per cent to close at N13.50 per share.

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