Another black day in the Nigeria stock market as the bourse turned negative on Tuesday closing the first trading session in June with a loss of N12 billion, amid losses in Seplat and 16 others.
The market capitalization of the All-Share index fell N12 billion to close at the N20.022 trillion mark. Also, the main index of the stock market lost 23.81 points or 0.06 percent to end at 38,414.37 points.
Accordingly, month-to-date and year-to-date losses stand at 0.1 percent and 4.6 percent, respectively.
The downtrend was driven by price depreciation in medium and large capitalized stocks amongst which are; Seplat, Africa Prudential, United Capital, Champion Breweries, and Unilever.
The peoples’ gazette reported that the analysis of the price movement indicates that 18 stocks posted price appreciation against 17 losers.
Champion Breweries led the losers’ chart in percentage terms by 9.91 percent to close at N1.91 per share.
John Holt followed with 7.94 percent to close at 58k, while Africa Prudential shed 7.26 percent to close at N5.75 per share.
Honeywell Flour Mill shed 6.61 percent to close at N1.13, while Chams depreciated by 4.76 percent to close at 20k per share.
Conversely, Morison Industries dominated the gainers’ chart in percentage terms, gaining 9.57 percent to close at N1.03 per share.
Wapic Insurance followed with 9.43 percent to close at 58k, while University Press inched higher by 9.40 percent to close at N1.28 per share.
Consolidated Hallmark Insurance rose by 9.09 percent to close at 72k, while Regency Alliance Insurance appreciated by 8.89 percent to close at 49k per share.
Despite the drop in market indicators, the total volume of trades traded increased by 36.16 percent with an exchange of 274.85 million units worth N2.63 billion in 4,159 deals.
This was in contrast with 201.86 million shares valued at N2.12 billion achieved in 3,827 deals on Monday.
Transactions in the shares of United Capital topped the activity chart with 23.97 million shares worth N143.66 million.
Veritas Kapital Assurance followed with 23.12 million shares valued at N4.62 million, while Eterna traded 21.58 million shares worth N163.98 million.
Zenith Bank sold 20.48 million shares valued at N470.70 million, while Transcorp transacted 16.49 million shares worth N14.64 million.