NGX: Capitalisation down by N1bn in cautious trading

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NIGERIA STOCK EXCHANGE1
NIGERIA STOCK EXCHANGE1

The Nigerian stock market ended trading on Tuesday on a cautious note with the capitalisation dropping by N1 billion to extend the negative sentiment to four trading sessions.

Specifically, the market capitalisation lost one billion naira to close at N19.724 trillion in contrast with N19.723 trillion on Monday.

Also, the All-Share Index, which opened at 37,857.89 dropped 0.65 points to close at 37,857.24.

The performance was due to investors’ reduced interest in major stocks.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Custodian Investment, FBN Holdings (FBNH), PZ Cussons Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO).

However, the market closed on a positive note with 17 gainers against 13 laggards.

NCR drove the gainers’ chart in percentage terms with 9.64 per cent to close at N2.73 per share.

Wema Bank followed with 9.46 per cent to close at 81k, while FTN Cocoa Processors grew…



Source: Vanguard Newspaper