. Cutix leads 7 gainers, 31 stocks lose
Nigerian equities market reverted to a new-month low as at the close of trade on Wednesday, driven by profit taking and sell-off occasioned by Eid-el-Kabir festival.
Therefore, the equities market posted a loss of N185bn, as market capitalisation slumped to N12.280 trillion (lowest figures recorded in the month of August) from N12.465trn recorded in the previous session.
Investors traded a total of 239.9million shares valued at N2.9billion in 4,371 deals, as against a total 144.5 million shares worth N1.5bn traded in 3,716 deals on Tuesday.
The All-Share Index also fell 1.48 per cent to settle at 35,629.13 points, as against 36,165.93points recorded on Tuesday.
The day ended with only 7 gainers, led by Cutix plc, while 31 stocks led by first aluminium recorded various degrees of losses.
First Aluminum and Nigerian Aviation Handling Company (Nahco) depreciated 5 per cent each to close at 57 kobo and N3.23 per share respectively. Mobil was next with a decline of 4.99 per cent to close at N3.23, Dangote sugar fell 4.89 per cent to close at N13.22, and Honeywell Flour Mills depreciated 4.29 per cent to close at N2.01 per share.
Cutix appreciated by 9.95 per cent to close at N2.43, but was trailed by May & Baker, which grew by 4.51 per cent to close at N3.01 per share, and Continental Re-insurance added 4.48 per cent to close at N1.40 per share.
Total also gained 2.75 per cent to close at N243 per share, while NEM Insurance advanced by 1.01 per cent to close the day at N1 per share.
Other gainers were, Nigerian Breweries and Nestle, which both improved marginally to settle at N185 and N1, 220.05 per share, respectively.
Afolabi Adesola
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