Investors lose N102bn as stocks fall for seventh day

The Nigerian equities market yesterday tumbled for seventh consecutive trading day as sell pressure remains unabated, producing 15 losers against 12 gainers.

Key market indicators, the NSE ASI, declined by 0.79 per cent as bargain hunters remained on the sideline, following growing investment apathy.

Consequently, the All-Share Index dipped 210 basis points or 0.79 per cent to close at 26,598.94 as against 26.809.92 recorded the previous day while market capitalisation of equities depreciated by N102 billion or 0.79 per cent to close at N12.948 trillion from N13.050 trillion.

Meanwhile, a turnover of 591 million shares exchanged in 2,907 deals was recorded in the day’s trading.

Other financial institution sub-sector was the most active during the day (measured by turnover volume), with 362.7 million shares exchanged by investors in 169 deals.

Volume in the sub-sector was largely driven by activities in the shares of Custodian and Investment Plc and United Capital Plc.

The premium sub-sector, boosted by activities in the shares of Access Bank Plc and Lafarge Africa Plc, followed with a turnover of 127.2 million shares traded in 1,019 deals.

Shares of Lafarge Africa Plc led the gainers chart, appreciating by 9.80 per cent to close at N1.12 per share. Cornerstone Insurance Plc and Chams Plc followed with a gain of 8.33 per cent each to close at 39 kobo and 26 kobo per share respectively while Jaiz Bank Plc gained 4.26 per cent to close at 49 kobo per share.

On the flip side, shares of PZ Cussons Nigeria Plc led the losers with 10 per cent to close at N6.30 per share. NCR Plc plunged 9.09 per cent to close at N4.50 per share while Guinness Nigeria Plc dropped 7.69 per cent to close at N30.00 per share.

Related posts

Leave a Comment