Equities trading at Nigerian Stock Exchange down 0.81% as Redstarex, Neimeth, Champion Breweries top losers

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Equities transactions on the Nigerian Stock Exchange (NSE) closed on a negative note Tuesday with the All-Share Index (ASI) declining by 0.81 per cent.

This was in contrast to a 0.33 per cent growth posted in the previous trading session.

The ASI dropped by 301.66 points or 0.81 per cent to close at 36, 669.61 from 36,971.27 posted on Monday.

The market capitalization reduced N104 billion to close at N12.622 trillion against an appreciation of N43 billion recorded in previous session to close at N12.726 trillion.

Redstar Express recorded the highest depreciation of 9.16 percent to close at N4.96 per share. It was followed by Neimeth Pharmaceuticals that dropped 8.82 per cent to close at 62 kobo per share and Champion breweries fell 5.19 percent to close at N2.56 per share.

Mobil trailed with a loss of 4.91 per cent to close at N157.85, while May Baker declined by 4.71 percent to close at N2.83 per share.

Conversely, International breweries recorded the highest price gain to lead the gainers’ table, with an appreciation of 5.78 per cent to close at N44.31 per share.

Jaiz Bank followed with a gain of 4.62 per cent to close at 68 kobo, while NEM garnered 4.51 per cent to close at N1.39 per share.

First Aluminum appreciated by 4 per cent to close at 52 kobo, while AIICO added 3.57 per cent to close at 58 kobo per share.

The volume of shares traded in 3,890 deals closed lower as 211.9 million shares valued at N4.742 billion exchanged hands on Tuesday as against 214.96 million shares valued at N2.73 billion transacted in 4,262 deals on Monday.

Fidelity Bank emerged the most traded equity, trading 24.8 million shares valued at N36.9 million.

Zenith Bank followed with 22 million shares worth N580.9 million, while Guaranty Trust Bank traded 20.1 million shares valued at N841.9 million.

Access Bank 19.9 million shares worth N193.7 million, while UBA traded 14.6 million shares worth N134.9 million.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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