Market cap down N75bn with indices dip 0.58% as DANGCEM, Guinness, Guinness led losers chart

Employees work on the trading floor at the Nigerian Stock Exchange (NSE) in Lagos, Nigeria, on Tuesday, April 2, 2019. The International Monetary Fund said Nigerias economy was growing too slowly to reduce poverty or joblessness and urged the government to boost revenue and scrap its system of multiple exchange rates. Photographer: Ruth McDowell/Bloomberg via Getty Images

By Chinyere Joel-Nwokeoma

Lagos, Aug. 11, 2020 The domestic bourse sustained losses on Tuesday with key market indices declining further by 0.58 per cent.

Specifically, the All-Share Index which opened at 25,027.61 dropped 143.91 points or 0.58 per cent to close at 24,883.70.

Consequently, the Month-to-Date gain moderated to +0.8 per cent while the Year-to-Date loss increased to -7.3 per cent.

Market capitalisation was down N75bn to close at N12.980 trillion, compared with N13.055 trillion recorded on Monday.

Dangote Cement recorded the highest loss to lead the laggards’ chart, dropping N5.80 to close at N136 per share.

Guinness trailed with a loss of 50k to close at N14.50, while Mansard Insurance lost 13k to close at N1.45 per share.

Ikeja Hotel dipped 11k to close at N1.01, while United Capital decreased by 10k to close at N3.14 per share.

On the other hand, Nigerian Breweries led the gainers’ table, gaining N2 to close at N34 per share.

Value Fund gained N1.55 to close at N115.05, while Ardova appreciated by 60k to close at N12.75 per share.

Cadbury increased by 45k to close at N7.05, while Guaranty Trust Bank grew by 25k to close at N24.80 per share.

Access Bank led the activity chart, exchanging 29.21 million shares worth N191.69 million.

Fidelity Bank followed with 27.78 million shares valued at N50.05 million, while Guaranty Trust Bank exchanged 25.28 million shares worth N625.55 million.

Zenith Bank traded 15.31 million shares valued at N257.79 million, while Wema Bank accounted for 11.12 million shares valued at N5.95 million.

In all, the total volume of trades increased by 17.84 per cent to 206.61 million units, valued at N2.48 billion and exchanged in 3,925 deals.

This was against 175.33 million shares worth N1.43 billion achieved in 4,294 deals on Monday.

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