Market extends downtrend as profit taking persist by investors

Transactions on the floor of the Nigerian Exchange on Tuesday closed on bearish note for the third straight sessions as the All Share Index dipped by 0.31% to close at 47,057.24 points from the previous close of 47,203.39 points.
Investors lose N79 billion as the Market Capitalisation closed at N25.357 trillion, down by 0.31% from the previous close of N25.436 trillion.An aggregate of 238.216 million units of shares were traded in 4,826 deals, valued at N5 billion.
The Market Breadth closed negative as 18 equities emerged as gainers against 21 equities that declined in their share prices.
Percentage Gainers PRESCO led other gainers as it grew its share price by 10% to close at N104.50 from the previous close of N95.00.
Nem Insurance, Ikeja Hotel and Sunu Assurance among other gainers also grew their share prices by 9.97%, 9.77% and 9.09% respectively.
Percentage LosersCOURTVILLE led other price decliners as it shed 7.25% of its share price to close at N0.51 from the previous close of N0.55.
UPDC and University Press among other prices decliners also shed their share prices by 5.66% and 5.41% respectively.
Volume DriversGTCO traded about 32 million units of its shares in 376 deals, valued at N887.6 million.
Zenith Bank traded about 24 million units of its shares in 339 deals, valued at N653 million.
NGXGROUP traded about 17 million units of its shares in 182 deals, valued at about N427 million.

For more details: https://stocksng.com/bearish-trend-continues-as-investors-lose-n79-billion/

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