BUA Cement, 24 Others Sink Customs Street by 0.67%

By Dipo Olowookere

Customs Street was further down by 0.67 per cent on Tuesday after 25 stocks, led by BUA Cement, ended on the losers’ chart at the close of trading activities.

Business Post reports that the Nigerian Exchange (NGX) Limited closed lower yesterday despite bullish investor sentiment as the bourse finished with 30 price gainers, indicating a positive market breadth index.

At the close of business, the All-Share Index (ASI) depreciated by 653.89 points to 96,928.52 points from 97,582.41 points, and the market capitalisation decreased by N372 billion to settle at N55.033 trillion compared with the previous day’s N55.405 trillion.

The sectorial performance showed that the industrial goods index went down by 3.69 per cent and the energy counter decreased by 0.17 per cent.

But the consumer goods space appreciated by 0.52 per cent, the insurance counter went up by 0.29 per cent, and the banking sector improved by 0.24 per cent.

BUA Cement lost 9.99 per cent yesterday to trade at N128.90, Thomas Wyatt depleted by 8.52 per cent to N1.61, Champion Breweries weakened by 7.97 per cent to N2.77, Eterna slumped by 7.37 per cent to N17.60, and Fidson tumbled by 6.78 per cent to N13.75.

On the flip side, the duo of NASCON and Academy Press appreciated by 10.00 per cent each to sell at N32.45 and N2.20, respectively, Oando jumped by 9.89 per cent to N30.55, SAHCO grew by 9.80 per cent to N22.40, and RT Briscoe advanced by 9.78 per cent to N1.01.

At the trading day, investors transacted 449.2 million shares worth N6.7 billion in 9,381 deals compared with the 324.0 million shares worth N6.2 billion in 9,738 deals, representing a decline in the number of deals by 3.67 per cent, and a surge in the trading volume and value by 38.64 per cent and 8.07 per cent, respectively.

The most traded stock yesterday at the NGX was UBA, with 62.8 million units valued at N1.3 billion, Oando transacted 36.2 million units worth N1.1 billion, Veritas Kapital sold 33.5 million units for N28.8 million, Sterling Holdings traded 33.3 million units valued at N127.8 million, and Access Holdings exchanged 31.0 million units worth N575.3 million.