Nigerian Equities Stumble by 0.88% as 21 Stocks Depreciate
By Dipo Olowookere
It was a bad for investors trading in the Nigerian stock market on Tuesday as they lost N103.7 billion to profit taking.
Business Post reports that at the close of transactions, the Nigerian Stock Exchange (NSE) depreciated by 0.88 percent.
This occurred on a day the National Bureau of Statistics (NBS) released inflation rate for the month of September, which eased further by 0.03 percent to 15.98 percent from 16.01 percent in August.
However, the market breadth closed positive with 22 gainers and 21 losers.
International Breweries emerged the biggest gainer, growing by N2.42k to settle at N44.31k per share.
It was followed by Guinness Nigeria, which went up by 75k to close at N100.75k per share, and UACN, which advanced by 45k to finish at N16.95k per share.
Dangote Sugar rose by 26k to end at N14.16k per share, while Stanbic IBTC grew by 20k to wrap the day at N43.20k per share.
At the other end, Nestle depreciated by N40.50k to close at N1200 per share, while Mobil lost N8.15k to finish at N157.85k per share.
Dangote Cement fell by N3.98k to end at N220 per share, Okomu Oil slumped by N1.37k to settle at N65 per share, and Nigerian Breweries deflated by 98k to shrink to N162.2k per share.
Though the volume of shares transacted today by investors at the market slightly declined, the value broadly appreciated.
At the close of business on Tuesday, 211.9 million shares worth N4.7 billion were traded in 3,890 deals against 215 million shares valued at N2.7 billion exchanged yesterday in 4,262 deals by investors.
Fidelity Bank was investors’ toast on the floor of the NSE today, exchanging 24.8 million shares worth N36.9 million.
It was trailed by Zenith Bank, which sold 22 million units for N580.9 million, and GTBank, which traded 20 million shares valued at N841.9 million.
Access Bank transacted 19.9 million shares valued at N193.7 million, while UBA sold 14.7 million shares worth N134.9 million.