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Equities market sheds N513.8 billion in three days following Brexit

 Equities trading on the Nigerian Stock Exchange (NSE) continued on a bearish note as investor’s value dipped by a total of N513.8 billion in the three days of trading immediately after the Brexit engendered cautious trading.

Tuesday’s trading saw lead indicators of the NSE drop further by 0.89 percent compared to the decline of 2.63 percent recorded previously as All Share Index shed 264.99 points to settle at 29,575.24 points while market capitalisation shed N91 billion to close at N10.157 trillion compared to the decline of N278 billion recorded previously to close at N10.248 trillion, leaving the NSE’s Year-to-Date (YTD) returns at +3.26 percent.

Market breadth closed negatively as Red Star Express Plc led 15 gainers against 34 losers topped by Transcorp Plc at the end of the day’s trading session.

Redstar Express Plc led the gainers chart with a gain of 9.90 percent or 39 kobo to close at N4.33 per share, Neimeth Pharmaceuticals followed with a gain of 9.17 percent or 10 kobo to close at N1.19 per share, while Julius Berger added 5 percent or N2.31 per share.

Law Union Plc and Union Dicon similarly gained 5 percent or 3 and 75 kobo respectively to close at 63 kobo and N15.75 per share.

On the other hand, Transcorp Plc’s investors lost 9.05 percent or 18 kobo of their share value as it closed at N1.81 per share, FBN Holdings Plc shaved 5.93 percent or 24 kobo to close at N3.81 per share, Oando Plc closed at N6.27 as it lost 38 kobo representing 5.71 percent.

Total Oil Plc also depreciated in share value from N200 to N190 per share as it lost N10.00 or five per cent, while UPL Plc closed at N4.37 having shed 23 kobo or 5 percent.

Transcorp Plc, Guaranty Trust Bank Plc, and First Bank of Nigeria Holding Plc were the most active to boost market turnover. While Transcorp sold 43.8 million shares worth N79.4 million, Guaranty Trust Bank Plc exchanged 42.8 million shares valued at N961.1 million and First Bank of Nigeria Holding Plc received N100.6 million for 25.7 million shares traded.

At the end of the day’s equities trading, investors had exchanged a total of 255.3 million shares worth N3.3 billion in 4,812 deals compared to a total of 375.2 million shares worth N4.03 billion in 4,229 deals traded on Monday.



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