Market capitalisation falls by N145bn on investor caution

 The trading floor of the Nigerian Stock Exchange

The stock market closed on a negative note on Tuesday with the market capitalisation of the listed equities declining for the fourth straight trading session.

Specifically, the market capitalisation fell by N145bn or 1.13 per cent from N12.826tn to N12.681tn.

Similarly, the Nigerian Stock Exchange All Share Index fell by 473.59 basis points or 1.13 per cent to close at 38,286.56 basis points, higher than the 0.93 per cent decline it recorded the previous day to close at 38,724.15 basis points.

The NSE 30 Index, which measures the performance of the 30 most capitalised companies on the Exchange, shed 28.4 basis points or 1.6 per cent from 1,749.97 basis points to 1,721.57 basis points.

The banking sub-sector led the activity chart, accounting for 19.3 per cent of total turnover volume traded on Tuesday.

A total of 76.984 million stocks worth N953.7m were traded in the sub-sector in 1,600 deals.

Volume was driven by trading in the shares of Zenith Bank Plc, United Bank for Africa Plc and Guaranty Trust Bank Plc.

In all, 17 equities recorded price appreciation on Tuesday, while 36 stocks recorded price depreciation.

Rak Unity Petroleum Company Plc led the gainers, rising by 61.29 per cent or 19 kobo to close at 50 kobo per share.

It was followed by Mobil Nigeria Plc and Seven-Up Bottling Company Plc, which gained 5.87 per cent and five per cent to close at N170.98 and N188.52 per share.

Evans Medicals Plc rose by 4.90 per cent or 10 kobo to close at N2.14 per share, while May and Baker Nigeria Plc gained 4.81 per cent or nine kobo to close at N1.96 per share.

Union Bank of Nigeria Plc, however, topped the losers after it fell by 6.57 per cent or 58 kobo to close at N8.25 per share. It was followed by Union Homes Real Estate Investment Trust, which shed 4.98 per cent or N2.37 to close at N45.22 per share.

National Salt Company of Nigeria was down by 4.96 per cent or 43 kobo to close at N8.24 per share, while Dangote Sugar Refinery Plc declined by 4.93 per cent or 37 kobo to close at N7.14 per share.

Investors exchanged 398.894 million shares valued at N2.804bn in 4,579 deals on Tuesday.