Nigerian Stock market ends in stalemate

Tuesday’s capital market session ended in sideways trading, with neither the bulls nor the pessimistic investors taking control of the exchange floor, but the Nigerian banking sector still dominated trading at the close of Tuesday’s session.

Resulting into a slight depletion in the market capitalisation, which closed the Nigerian bourse with N24.746 trillion, from Monday’s N24.749 trillion.

In the same fashion, the All-share Index fell slightly to 45,924 points, having shed 4.27 basis points during trading today, from previous day’s 45,928.27 points.

Over 196.26 million shares were traded with N2.41 billion in 3,739 deals on Tuesday, in contrast to Monday’s 278.60 million shares exchanged in 4,447 deals worth N2.88 billion.

After eight hours of trading, Courtville heads the top five gainers, ending today’s session with 10 percent gain in its share, which rose to N0.55kobo per share from N0.50kobo.

Ecobank share increased in value, gaining N0.90kobo to end trading with N9.95kobo from N9.05 per share.

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Academy share was up 9.72 percent to move from N0.72kobo to N0.79kobo per share. Champion gained N0.19kobo to move from N2.36kobo to N2.55kobo per share.

Regal Insurance was up by 5.26 percent as the share ended trading with N0.40kobo from N0.38kobo per share.

On the chart of the losers, C&I Leasing topped after losing N0.42kobo from its share which declined from N4.20kobo to N3.78kobo per share. Prestige share depreciated from N0.51kobo to N0.46kobo per share after losing 9.80 percent during trading.

Consolidated Hallmark Insurance share dropped 7.81 percent to end trading at N0.64kobo from N0.59kobo per share. Cornerstone lost 3.77 percent to end trading with N0.51kobo from N0.53kobo per share.

Mutual Benefit completed the list after shedding 3.70 percent from its market price to drop from N0.27kobo to N0.26kobo per share.

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The top trading equities are Courtville, which reported an exchange of 11.76 million shares worth N38.05 million. GTCO traded 19.97 million valued at N509.56 million.

Zenith Bank followed with 14.69 million shares valued at N373.80 million. Access Bank sold 14.22 million shares worth N138.60 million, while Transcorp traded 12.24 million valued at N13.12 million.