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Equity market records losses, indices down 0.29%

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 The equity market recorded a loss of N78 billion or 0 29 per cent on Tuesday as market capitalisation closed at N26 373 trillion compared with N26 451 trillion posted on Friday Similarly the All Share Index dipped by 144 42 points or 0 29 per cent to close at 48 879 74 from 49 024 16 recorded on Friday Selloffs in Tier one banks such as Zenith Bank Access Holding FBN Holding and Guaranty Trust Holding Company GTCO were the primary drivers of the market s weak performance As a result the year to date YTD return fell to 14 43 per cent Analysts at Vetiva Securities Ltd said We expect another mixed day of trading tomorrow amid bargain hunting activities across board as investors continue to tread cautiously in the market Overall there were nine gainers and 21 losers with Multiverse Mining and Exploration leading the gainers chart with 9 76 per cent to close at N4 05 per share RTBriscoe followed with a rise of 8 82 per cent to close at 37k while NGX Group gained by 7 5 per cent to close at N21 50 per share AIICO Insurance rose by 5 77 per cent to close 55k per share Africa Prudential appreciated by four per cent to close at N5 20 Conversely International Breweries led the losers chat with a depreciation of 9 09 per cent to close at N4 50 per share Red Star Express declined by 7 83 per cent to close at N2 12 while Sovereign Trust Insurance went down by 7 41 per cent to close at 25k per share Japaul Gold and Ventures fell by 7 14 per cent to close at 26k per share Also Consolidated Hallmark Insurance lost by 7 02 per cent to close at 53k per share A total of 125 95 million shares valued at N3 07 billion were exchanged in 4 145 deals GTCO recorded the highest volume of 17 19 million shares traded worth N1 26 billion Zenith Bank followed having sold 14 39 million shares valued at N283 88million United Bank for Africa UBA traded 10 67 million shares worth N73 19 million while NGX Group sold 8 35 million shares amounting to N173 92 million Also Chams sold 6 78 million shares worth 1 87 million NewsSourceCredit NAN
Equity market records losses, indices down 0.29%

The equity market recorded a loss of N78 billion or 0.29 per cent on Tuesday as market capitalisation closed at N26.373 trillion compared with N26.451 trillion posted on Friday.

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All-Share Index

Similarly, the All-Share Index dipped by 144.42 points or 0.29 per cent to close at 48, 879.74 from 49,024.16 recorded on Friday.

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Selloffs in Tier-one

Selloffs in Tier-one banks such as Zenith Bank, Access Holding, FBN Holding and Guaranty Trust Holding Company (GTCO) were the primary drivers of the market’s weak performance.

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As a result, the year-to-date (YTD) return fell to 14.43 per cent.

Vetiva Securities Ltd

Analysts at Vetiva Securities Ltd. said, “We expect another mixed day of trading tomorrow, amid bargain hunting activities across board as investors continue to tread cautiously in the market.

Multiverse Mining and Exploration

Overall there were nine gainers and 21 losers, with Multiverse Mining and Exploration leading the gainers’ chart with 9.76 per cent to close at N4.05 per share.

RTBriscoe followed with a rise of 8.82 per cent to close at 37k, while NGX Group gained by 7.5 per cent to close at N21.50 per share.

Africa Prudential

AIICO Insurance rose by 5.77 per cent to close 55k per share.

Africa Prudential appreciated by four per cent to close at N5.20.

International Breweries

Conversely, International Breweries led the losers’ chat with a depreciation of 9.09 per cent to close at N4.50 per share.

Red Star Express

Red Star Express declined by 7.83  per cent to close at N2.12, while Sovereign Trust Insurance went down by 7.41 per cent to close at 25k per share.

Japaul Gold and Ventures

Japaul Gold and Ventures fell by 7.14 per cent to close at 26k per share.

Consolidated Hallmark Insurance

Also, Consolidated Hallmark Insurance lost by 7.02 per cent to close at 53k per share.

A total of 125.95 million shares valued at N3.07 billion were exchanged in 4.145 deals.

GTCO recorded the highest volume of 17.19 million shares traded worth N1.26  billion.

Zenith Bank

Zenith Bank followed, having sold 14.39 million shares valued at N283.88million.

United Bank for Africa

United Bank for Africa(UBA) traded 10.67 million shares worth N73.19 million, while NGX Group sold 8.35 million shares amounting to N173.92 million.

Also, Chams sold 6.78 million shares worth 1.87 million.

NewsSourceCredit: NAN

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