Nigeria bourse records downturn

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Market capitalization on the floor of the Nigerian Stock exchange Tuesday went down from 12.162 trillion naira recorded the previous day to 12.051 trillion naira.

Also the All-Share Index dropped to 62,503.03 from the previous day’s (Monday) f igure of 63,075.34 points.

Investors staked 11.167 billion naira on 727.4 million shares traded in 18,266 d eals.

On Monday, investors staked 11.280 billion naira on 636,40 million shares traded in 19,003 deals.

The insurance subsector regained its lead on the activity chart as it led with 3 29.8 million shares valued at 1.58 billion naira in 3,845 deals, measured in turn over volume.

The shares of Universal Insurance Plc, Unic Insurance Plc and Crusader Insurance Plc boosted the activity in the subsector.

The Banking sunsector followed on the activity chart with 200.6 million shares w orth 5.647 billion naira in 7,777 deals.

Oceanic Bank International Plc, Access Bank Plc and Intercontinental Bank Plc we re the stocks that boosted activity in the subsector.

Conglomerates came a distance third with 32 million shares valued at 416 .8 mill ion naira.

As usual, Transnational Corporation of Nig. Plc (TRANSCORP) was the most bought stocks, followed by P.Z.Cussons Nig Plc and UNILEVER Nig Plc.

Mobil Nig Plc led on the gainers’ table with N12.50 to close at N262.54, Oando P lc followed with a gain of N10.50 closing at N220.50 and Benue Cement Company Pl c gained N1.88 to close at N45.17.

On the losers’ table another Petroleum marketing stock led. Chevron Oil Nig Plc lost N16.00 to close at N305.00, NESTLE Nig Plc followed with a loss of N13.17 t o close at N250.38 and Conoil Nig Plc also lost N6.53 to close at N132.46. Panapress.

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