Stock market declines by N37bn

Transactions on the floor of Nigerian Exchange (NGX) on Tuesday took bearish trend, shedding N37 billion. Market capitalisation of listed equities declined by  0.12 per cent to N29.575 trillion from N29.612 trillion reported the previous day.The NGX All Share Index also depreciated by 67.98 basis points to 54299.76 points from 54367.74 points in the previous day.

A review of the investment for the day showed that Conoil Plc led gainers table with a gain of 10 per cent to close at N29.15, MRS Oil pls followed with an increase of 9.82 per cent to close at N21.25 per units, International Energy Insurance gained 9.35 per cent to close at N1.17, Glaxosmith Kline added 6.92 per cent to N6.95, Wapic Insurance grew by 4.65 per cent to N0.45.

On the contrary, JapaulGold topped losers chart in percentage terms,dropping by 9.38 per cent to close at N0.29, FCMB group trailed with a loss of 7.82  per cent to close at N4.60, Royal Exchange dipped by 7.32 per cent to close at N0.76, Linkage Assurance dipped by 6.12 per cent to N0.46 and UACN dropped by 6.12 per cent to N9.20.

Volume of transactions increased slightly as investors traded   200.035 million shares valued at N7.622 billion in 4380 deals against 191.636 million shares worth N4.788 billion in 4359 deals.