Activities at the Nigerian Stock Exchange (NSE) on Tuesday remained on a downward trend with major blue chip companies recording price depreciation.
The market capitalisation dropped further by N62 billion to close at N9.746 trillion, compared with N9.808 trillion recorded on Monday.
In the same vien, the All-Share Index lost 181.53 points or 0.64 per cent to close at 28,351.28 against 28,532.81 achieved on Monday.
Mallam Garba Kurfi, the Managing Director of the APT Securities and Funds Ltd, said that the market had no hope of recovering due to uncertainties in the country.
Kurfi said that the market would likely end the year on a downward trend because there was nothing that could propel investors’ confidence in the market.
He said that the market would only recover in 2016 if there was a good budget.
Guinness led the laggards’ chart, dropping by N6.74 to close at N128.24 per share followed by Seplat with a loss of N4 to close at N226, while Nigerian Breweries shed N2.55 to close at N122.46 per share.
PZ industries declined by 10k to close at N25 and UAC Property lost 70k to close at N6.58 per share.
Conversely, 7UP topped the gainers’ table, gaining N1.98 to close at N184.99 per share.
International Breweries followed with 30k to close at N17, while Dangote Sugar appreciated by 20k to close at N6.50 per share.
Port Land Paint gained 17k to close at N3.70 while Ikeja Hotel improved by 12k to close N3.59 per share.
A total of 130.07 million shares worth N2.51 billion were exchanged by investors in 3,156 deals.
This was in contrast with 202.21 million shares valued N1.09 billion traded in 2,614 deals on Monday.
A breakdown of the activity chart indicated that FBN Holding emerged the most active stock, accounting for 18.92 million shares worth N97.21 million.
It was followed by GT Bank with 16.44 million share valued N372.83 million, while Access Bank sold 13.66 worth N65.13 million.
Transcorp traded 7.32 million shares valued N13.35 million and UBA sold 7.31 million shares worth N26.56 million.
