NSE sustains negative trading

Activities on the Nigerian Stock Exchange (NSE) on Tuesday were on a downward trend for the second trading day, with the market indices declining by 0.17 per cent.
The market capitalisation lost N15 billion to close at N9.132 trillion compared with N9.147 trillion on Monday.
Similarly, the All-Share Index which opened at 26,586.56 lost 45.69 points or 0.17 per cent to close at 26,540.87 due to price losses.
The downturn was largely boosted by value depreciation recorded in some medium and large capitalised stocks such as Forte Oil, Unilever, GT Bank and Total Nigeria, among others.
Forte Oil recorded the highest price loss to lead the losers’ chart, dropping N10.22 to close at N94.69 per share.
Total trailed with a loss of N2.90 to close at N277.10 and Unilever lost N1.60 to close at N36 per share.
GT Bank dipped 48k to close at N24.80, while Okomu Oil shed 21k to close at N39.79 per share.
Conversely, Guinness led the gainers’ table with a gain of N2.50 to close at N87.50 per share.
Julius Berger garnered N1.83 to close at N38.38 and Lafarge Wapco increased by N1 to close at N40 per share.
NASCON appreciated by 38k to close at N7.60, while Access Bank chalked up 13k to close at N5.69 per share.
The banking equities remained the most traded sector with UBA emerging the most active with a turnover of 75.53 million shares worth N345.18 million.
It was followed by FBN Holdings, having accounted for 29.13 million shares valued at N99.79 million, while Zenith Bank sold 25.63 million shares worth N369.79 million.
GT Bank traded 17.52 million shares valued at N436.76 million and Sterling Bank accounted for 15.66 million shares worth N11.28 million.
In all, investors bought and sold a total of 248.71 million shares valued at N3.10 billion exchanged in 3,271 deals against 262.89 million shares worth N1.75 billion achieved in 2,789 deals on Monday.