By Dipo Olowookere
The Nigerian Stock Exchange (NSE) recorded its first loss of the week on Tuesday as investors peruse the few already released 2017 full year financial earnings of firms quoted on the NSE.
Business Post reports that at the close of business today, the stock market went down by 0.66 percent with the year-to-day return shrinking to 10.61 percent.
This loss came on a day the National Bureau of Statistics (NBS) released figures of the nation’s Gross Domestic Product (GDP) for the fourth quarter of 2017 as well as the full year.
In the data released by the stats office, the country’s economy recorded a GDP growth of 1.92 percent in Q4 2017, while it posted a 0.83 percent increase in the full year.
But the poor performance of heavyweight stocks like Dangote Cement and others dragged the equities market into the red zone on Tuesday.
When market activities were brought to a halt today, Seplat emerged the biggest price loser, shedding N13.50k of its share value to settle at N657.90k per share.
It was followed by International Breweries, which fell by N2.85k to close at N57 per share, and Dangote Cement, which fell by N2 to end at N257 per share.
Lafarge went down by N1.30k to finish at N50 per share, while Julius Berger depreciated by N1.10k to close at N24.85k per share.
On the flip side, it was a very good day for Nestle as the stock rose by N22 to close on Tuesday at N1400 per share.
It was trailed by Total Plc, which grew by N15 to finish at N232 per share, and Mobil Nigeria, which appreciated by N3.40k to close at N183.90k per share.
Conoil improved by N3.15k to finish at N35.25k per share, while CCNN increased by N1.35k to settle at N18.20k per share.
It was observed that despite the poor performance of the market today, the volume and value of equities transacted by investors increased.
At the close of trading activities on Tuesday, investors traded a total of 438.7 million shares worth N8.8 billion in 5,433 deals in contrast to 384.9 million equities sold yesterday in 4,774 deals valued at N5.5 billion.
Transcorp attracted huge attention from investors on the floor of the NSE today, emerging the most traded equity with 45 million units sold for N93 million.
Diamond Bank traded 43.7 million shares worth N105.7 million, while FBN Holdings exchanged 42.7 million equities valued at N490.9 million.
Furthermore, Fidelity Bank transacted 40 million shares for N120 million, while Access Bank exchanged 27.4 million equities valued at N355.3 million.
Taking a look at the major market indices today showed that the All-Share Index (ASI) went down by 279.92 points to settle at 42,299.56 points, while the market capitalisation decreased by N100.5 billion to finish at N15.180 trillion.
Investors expect some top companies to release their 2017 financial statements from tomorrow and would hope the positive earnings will propel the market back into the green territory.
