Investors Lose N53b as Bears Maintain Dominance on NSE

NSE Investors

By Dipo Olowookere

A total of N53 billion was lost on Monday by investors trading equities on the floor of the Nigerian Stock Exchange (NSE).

The loss came as a result of profit-taking activity carried out by investors, who were reacting to various signs being flashed by the market indicators and financial analysts.

The selloffs yesterday led to the decline in the All-Share Index (ASI) by 145.2 points to close at 31,533.50 points, while the market capitalisation reduced by N53 billion to finish at N11.512 trillion.

Activities at the local bourse on Monday were low with the volume of traded equities depreciating by 53.15 percent from 223.9 million to 104.9 million, while the total value of shares dropped by 26.11 percent from N2.6 billion to N1.9 billion.

Market sentiment was also negative with a total of 18 stocks declining in value against 17 stocks, which appreciated in price.

Nigerian Breweries topped the losers’ chart yesterday after losing N2.10k of its share price to settle at N79.40k per share.

It was followed by GTBank, which shed 50 kobo to end at N35.90k per share, and Lafarge Africa, which lost 25 kobo to quote at N13.75k per share.

May & Baker went down by 19 kobo to close at N2.31k per share, while UBA declined by 15 kobo to settle at N7.65k per share.

On the other side of the divide, CAP emerged as the biggest price gainer, adding N2.75k to its share value to finish at N31.95k per share.

GlaxoSmithKline rose by N1.25k to end at N14.50k per share, while PZ Cussons grew by N105k to settle at N11.70k per share.

Flour Mills appreciated by 70 kobo to close at N20.50k per share, while Julius Berger increased by 50 kobo yo settle at N21 per share.

Business Post reports that activity chart was topped on Monday by financial stocks with a turnover of 57 million equities sold for N538 million, which shares in the consumer goods sector followed with a turnover of 26.8 million units sold for N950 million.

The busiest stock at the market yesterday was Unilever, which transacted a total of 20.4 million units of its stock for N805 million.

It was followed by Zenith Bank, which traded 14.5 million shares worth N347.4 million, and Interlinked Technologies, which sold 9.5 million equities valued at N34.3 million.

FCMB exchanged 7.3 million shares worth N11 million, while Diamond Bank traded 5.9 million equities valued at N5.1 million.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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