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Investors at the Nigerian Stock Exchange (NSE) on Tuesday
recorded more losses on the value of their equities, as market closed trading
on negative note.

The NSE market capitalisation of the 201 First-Tier equities
closed yesterday at N8.541 trillion after opening the day at N8.575 trillion,
reflecting 0.39 per cent decline or N34 billion losses. The market had lost
N168 billion at the close of trading session on Monday.

However, the transaction volume recorded yesterday appreciated by
16.87 per cent to close at 330.40 million units exchanged in 6,349 deals as
against a decline of 22.69 per cent recorded on Monday to close at 282.72
million units exchanged in 5,768 deals. Market value also moved up on Tuesday
by 5.38 per cent to close at N3.28 billion as against a decline of 8.93 per
cent recorded the previous trading session to close at N3.11 billion.

Analysts at Proshare Nigeria, an investment advisory firm, said,
“The southward trend continued though waning momentum in sell activities.”

Gainers unchanged

At the close of trading on Tuesday, the number of gainers remain
unchanged as the 16 gainers recorded the previous session while losers closed
lower at 39 stocks when compared with the 50 losers in the previous trading
day.

Air Service and Neimeth topped the price gainers’ table with an
increase of 4.98 and 4.96 per cent respectively. Afro Media and Guaranty Trust
Bank followed in the chart with an increase of 4.84 and 4.42 per cent.

On the losers’ side, Royal Exchange and UBA led the price
losers’ chart with a decline of 5.00 and 4.98 per cent respectively. Africa
Petroleum and Presco followed with a decline of 4.96 and 4.94 per cent.

Bank leads

The banking subsector led the market transaction volume on
Tuesday with 242.41 million units valued at N2.15 billion exchanged in 3,829
deals, as against the 208.28 million units valued at N1.84 billion exchanged in
3,275 deals recorded on Monday.

The volume recorded in the subsector was driven by transaction
in the shares of Guaranty Trust Bank, Zenith Bank, UBA, Fidelity Bank, and
Oceanic Bank. The total volume of 133.76 million units valued at N1.45 billion
traded in the shares of the five stocks accounted for 40.49 per cent of the
entire market volume and their value represented 44.27 per cent of the market’s
value.

Meanwhile, the Securities and Exchange Commission announced on Monday that
all registered capital market operators are required to provide, within two
weeks, current information about their organisation as it is “currently updating
their information on the commission’s database.”