Capital market indices record further depreciation

Transactions at the Nigerian Stock Exchange (NSE) ended on a negative note on Tuesday as the market indicators recorded 1.62 per cent depreciation as some major companies recorded losses
The All-Share Index declined by 586.21 points to close at 34,902.59 as against 35,488.80 posted on Monday. The market capitalisation, which opened at N11.75 trillion dropped by N190 billion to close at N11.56 trillion. The price movement chart indicated that Seplat led the losers’ chart by N8.5 to close at N161.5 per share and was followed by Total Oil and 7UP which lost N8.29 and N8, respectively, to close at N157.71 per share and N165 per share.
Cadbury dipped by N4.62 to close at N176.66 while Nigerian Breweries dropped N4 to close at N162 per share. Conversely, Total Oil topped the gainers’ chart with N6 to close at N165 per share. Oando Oil garnered N1.82 to close at N23, while UAC-Prop rose by 52k to close at N10.96 per share.
Berger increased by 4k to close at N8.7 while Portpaint improved by 24k to close at N5.04 per share. Transcorp was the most traded stock, accounting for 19.76 million shares worth N83.51 million. FBN Holdings recorded a turnover 17.47 million shares valued N166.64 million, while Zenith Bank sold 17.23 million shares valued N361.41 million. In all, a total of 179.88 million shares worth N2.22 billion were traded by investors in 3,962 deals. This was against the 198.86 million shares valued at N2.34 billion traded in 424 deals on Monday.