Stock investors lose N7bn as market return southwards

Nigerian stock index sheds 0.35%

Stock investors lose N7bn as market returns southwards


Sentiments again went negative as trading on the floor of the Nigerian Stock Exchange (NSE) closed southwards on Tuesday with N9 billion loss.

Following the day’s loss, the All-Share Index (ASI) tracking share price movement at the bourse shed 17.9 points, equivalent to 0.04 per cent depreciation to close at 38,704.97 index points.

Similarly, the equities market capitalization ended in the red by losing the same percentage points to close at N20.251 trillion from N20.260 trillion.

The ASI was dragged by profit-taking on ZENITHBANK (-2.2 per cent), ETI (-5.9 per cent) and FLOURMILL (-2.4 per cent) stocks. Accordingly, Month-to-Date and Year-to-Date losses increased to -2.8 per cent and -3.9 per cent, respectively.

The total volume and value of trades increased by 45.9 per cent and 94.83 per cent to 404.53 million units, valued at N5.86 billion and exchanged in 3,838 deals.

DANGSUGAR was the most traded stock by volume and value at 107.08 million units and N1.80 billion respectively.

Analysing by sectors, the insurance, oil & gas and consumer goods indices rose by 0.6 per cent, 0.1 per cent and 0.1 per cent indices recorded gains, while the Banking index shed 0.7 per cent. The industrial goods index closed flat.

As measured by market breadth, market sentiment was neutral (1.0x), as an equal number of tickers, 19, recorded gains and declines.

The bull camp was led by CAP Plc and WAPIC gaining 10 per cent each to close at N22 and N0.55 per share respectively. Others include NPFMCFBK, JBerger and FTCOCOA with 9.94 per cent, 9.89 per cent and 9.30 per cent to close the day at N1.77, N20.55 and N0.47 per share respectively.

On the flip side, Livestock shed 9.52 per cent to close at N1.90 per share as the highest percentage loss of the day. Others are CHAMS, CONERST, CHAMPION and ETI with N8.7 per cent, 6.67 per cent, 6.25 per cent and 5.88 per cent to close at N0.20, N0.56, N2.10 and N4.80 per share in that order.