Nigerian Stocks Resume Easter Holiday with N105b Loss
By Modupe Gbadeyanka
Trading activities resumed on Tuesday on the floor of the Nigerian Stock Exchange (NSE) after two trading days of public holiday to mark the Good Friday and Easter Monday celebrations.
As investors settled for business, the stock market kicked off on a bearish trend, resulting into a loss of N105 billion at the first day of trading after the break.
The All-Share Index depreciated by 302.94 points or by 1.19 percent to close at 25,207.07 points, while the market capitalisation dropped N104.8 billion to finish at N8.722 trillion with the year-to-date return ending at -6.16 percent.
Though the volume of shares traded today declined, the value slightly closed higher than what was achieved last Thursday, the last trading day on the floor of the NSE.
Business Post correspondent reports that investors exchanged a total 255 million shares on Tuesday valued at N2.5 billion executed in 2,854 deals compared with 349.3 million shares transacted last Thursday in 2,826 deals worth N2.3 billion.
On the price movement chart, Nestle emerged the biggest loser with a fall of N21.93k to close at N728.7k per share.
Dangote Cement dropped N4 to finish at N160 per share, while Ecobank depreciated by 41k to end at N7.79k per share.
Oando declined by 27k to close at N5.32k per share and Union Bank of Nigeria slumped by 26k to end at N4.98k per share.
At the other end, Seplat gained N10 to finish at N400 per share, leading the gainers table on Tuesday.
It was trailed by Forte Oil, which advanced by 50k to close at N44.50k per share and Dangote Flour progressed by 18k to end at N4.40k per share.
First Bank went up by 16k to finish at N3.36k per share and Stanbic IBTC grew by 14k to wrap the day at N18.90k per share.
The market breadth, our correspondent reports, closed negative today with 19 declining stocks and 13 advancing stocks.