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Unilever Nigeria Returns Market Indices to Danger Zone

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) reversed the gains recorded on Monday to close bearish on Tuesday after shedding 0.08 percent to leave the year-to-date loss to 15.23 percent.

However, the volume of shares transacted by investor at yesterday’s session increased by 189.29 percent from 120.8 million to 349.5 million, while the value rose by 9.43 percent from N1.3 billion to N1.5 billion.

Business Post reports that despite the increase of trading activities on Tuesday, 21 stocks recorded price depreciation, while 20 stocks grew their values.

It was not a pleasant day for Unilever Nigeria as its shares declined by N3 to settle for the day at N42 per share.

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It was followed by Nigerian Breweries, which crashed by N2 to finish at N88 per share, and International Breweries, which also lost N2 to close at N30.50k per share.

Northern Nigeria Flour Mills fell by 60 kobo to end at N5.90k per share, while Presco declined by 35 kobo to finish at N53 per share.

On the other hand, Nestle Nigeria topped the gainers’ chart after adding N5 to its share price to close at N1405 per share.

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Okomu Oil gained N2.60k to finish at N75.80k per share, while CAP grew by N1.55k to settle at N30 per share.

Cadbury Nigeria advanced by 65 kobo to quote at N10.30k per share, while GTBank appreciated by 45 kobo to finish at N37 per share.

At the market yesterday, the Financial Services sector led the activity chart with 324.3 million shares exchanged for N880 million, while the Consumer Goods sector followed with 7.8 million shares transacted for N355 million.

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Royal Exchange emerged the most traded stock on Tuesday after accounting for 231.7 million units worth N48.7 million.

FCMB sold 26.2 million shares worth N44.6 million, while GTBank traded 12.3 million equities valued at N450.2 million.

Fidelity Bank sold 11.4 million shares worth N20.6 million, while Zenith Bank exchanged 6.6 million equities for N144.9 million.

A look at the major market indices showed that while the All-Share Index (ASI) went down by 27.26 points to settle at 32,417.70 points, the market capitalisation decreased by N10 billion to finish at N11.835 trillion.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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