The Nigerian stock market further recorded loss of about N126bn after yesterday trading on the Nigerian Stock Exchange (NSE). The stock market recorded only 6 gainers against 24 losers led by Seplat Petroleum Development Company plc. As sell pressure battered equities prices, the value of listed equities declined from N9.987trn recorded the preceding day to N 9.861trn yesterday. Also, the NSE All Share Index (ASI) declined by 1.26% to 29,553.69 points from 29,929.56 points recorded Monday. Seplat lead the pack of losers after its share price dropped by N20.42, from N408.5 to N388.08; followed by Zenith Bank plc which declined from N18.8 to N17.96, after losing N0.84.
International Breweries plc lost N0.55, from N17.8 to N17.25; Union Bank of Nigeria plc dipped by N0.5, from N10 to N9.5; while UAC Property Development Company lost N0.46, from N9.35 to N8.89. At the oil market, Brent crude oil prices pared losses in choppy trading on Tuesday, but remained at the lowest levels since early February as traders refocused their attention on the mounting supply glut. Brent, which fell as low as $52.57, was trading at $52.99, down 45 cents, by 1317 GMT. The April contract that expired in the previous session closed down $1.23 after hitting $52.50 earlier on Monday, its lowest since February 2.
Access Bank plc rallied most after its share price gained N0.6, from N5.98 to N6.58; followed by Guinness Nigeria plc which appreciated by N0.32, from N125.68 to N126. Fidson Healthcare plc rose by N0.04, from N2.96 to N3; Costain (WA) plc also advanced by N0.03, from N0.64 to N0.67; while International Energy Insurance plc rose by N0.02, from N0.52 to N0.54. Actively traded stocks yesterday include Diamond Bank plc, Access Bank plc, FBN Holdings plc, Transnational Corporation of Nigeria plc, and FCMB Group plc.
Equity traders exchanged 209.349million units of Diamond Bank plc valued at N 8 3 5 . 3 1 9 m i l l i o n ; 48.175million units of Access Bank plc valued at N296.915million; 40.332million units of FBN Holdings plc valued at N322.964million; 21.520million units of Transnational Corporation of Nigeria plc valued at N60.453million; and 17.691million units of FCMB Group plc valued at N43.173million. Generally, in 3,739 deals, equity dealers exchanged 452.288million units valued at N3.283bn.
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