Equities trading leaves investors N74bn poorer

The Nigerian Stock Exchange (NSE) continued on a downward trend yesterday as investors lost N74 billion for the market to close at N8.818 trillion.

The All-Share Index (ASI) declined 0.83 percent, ending the day at 25,587.09, from its 25,802.54 opening.

Investors transacted 152.4 million shares, 5 percent higher than 144.6 million shares sold previously, while value of equities traded dropped to N903.5 million, 25 percent lower than N1.2 billion recorded previously.

The day’s transactions were carried out in 2706 deals, compared to 2,350 deals on Friday.

A quick review of index performance showed most indices trended southwards, except the Consumer Goods Index that advanced slightly by 0.02 percent, following appreciation recorded in Dangote Sugar and Nigerian Breweries.

However, a sharp decline in blue-chip companies such as Total, Dangote Cement, Guinness, PZ, GSK and others impacted the Main Board, Oil and Gas, and Industrial indices that shed 0.73, 0.52, and 0.9 percent respectively.

FBN Holdings was the most active stock with 25.3 million shares traded for N88.2 million. Standard Trust Alliance followed with 20 million units worth N10 million and Fidelity Bank was third with 13.6 million shares valued at N12.1 million.

FCMB was the fourth-most traded stock with 13.3 million units valued at N16.7 million, while Zenith Bank emerged fifth with 12.2 million units of shares at N187.3 million.

The price movement table showed that 8 equities, lower than 25 decliners.

United Capital led the eight gainers with 4.79 percent growth to close at N3.72. Livestock Feeds followed improved 4 percent to close at 78 kobo, while AIICO Insurance added 1.72 percent to close at 59 kobo. NEM increased 1.25 percent to close at 81 kobo and Dangote Sugar gained 0.67 percent to close at N6.05.

UAC-Prop led the 25 decliners with 9.27 percent to close at N2.25. Air Service was next with a depreciation of 9.13 percent to close at N2.39, GlaxoSmithKline lost 5 percent to close at N14.25, PZ Cussons shed 4.95 percent to close at N12.87 and Neimeth Pharmaceuticals depreciated 4.84 percent to close at 59 kobo.