NSE: Year to date losses widen to 16% as investors fortunes plunge
Whirlwind of sell-offs has persisted on the Nigerian Stock Exchange, thus widen year to date losses to 16% on Tuesday.
Again, stock market plunged by ₦85 billion on Tuesday just as the Nigerian Bureau of Statistics said inflation inched up to 12.20%.
Market capitalisation however settled at ₦11.747 trillion, and the All-Share Index (ASI) lost 162.12 points or 0.71% to close at 22,543.07.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which were; Dangote Cement, CAP, Ardova Plc, NASCON and International Breweries.
Dangote Cement and NASCON led the losers’ chart in percentage terms, as 10% knocked off their opening values each, to close at ₦137.70 and ₦8.55 per share, respectively.
Ardova followed with a decline of 9.80% to close at ₦13.80, while CAP lost 9.77% to close at ₦18 per share.
International Breweries value slipped by 9.57% to close at ₦5.20, with barrage of loses from Insurance stocks.
On the gainer’s charts, Access Bank, Lafarge Africa and United Capital led the in percentage terms, gaining 10% each, to close at ₦6.05, ₦11 and ₦2.42 per share, respectively.
FCMB Group gained 9.66% to close at ₦1.59, just as shares in Cadbury and Caverton appreciated 9.62% each, to close ₦5.70 and ₦2.28 per share, respectively.
Transcorp increased by 9.52% to close at 69 kobo, while NPF Microfinance Bank rose by 9.41 % to close at 93 kobo per share.
However, the total volume of shares traded rose by 22.56 % as investors bought and sold 675.91 million shares valued ₦8.06 billion in 7,368 deals.
This was in contrast with a total of 551.48 million shares worth ₦5.76 billion shares achieved in 6,981 deals on Monday.
Transactions in the shares of Zenith Bank topped the activity chart with 173.94 million shares worth ₦2.32 billion.
Guaranty Trust Bank came second with 131.06 million shares valued ₦2.57 billion, while FBN Holdings traded 119.27 million shares worth ₦478.91 million.
Access Bank sold 92.03 million shares valued ₦539.13 million, while United Bank for Africa transacted 31.47 million shares worth ₦168.89 million.
NSE: Year to date losses widen to 16% as investors fortunes plunge
