NSE: Investors Lose N122b as 13 Stocks Crash

March 2, 2017
NSE: Investors Lose N122b as 13 Stocks Crash

NSE: Investors Lose N122b as 13 Stocks Crash

By Modupe Gbadeyanka

Equity transactions on the floor of the Nigerian Stock Exchange (NSE) closed bearish on Thursday for the third consecutive session with the market indices relaxing in the red zone.

The All-Share Index (ASI) depreciated by 353.51 points or 1.40 percent to finish at 24,829.59 points, while the market capitalisation slumped by N122 billion to close at N8.6 trillion.

At the close of trading activities today, the year to date (YTD) return stood at -7.61 percent.

It was observed that the stock market finished badly today due to impact of the 19 stocks that depreciated in price led by Dangote Cement, leaving the gains recorded by nine equities, led by Forte Oil, insignificant on the outcome of the market.

Business Post reports that Dangote Cement crashed by N8.44k to close at N160.55k per share, while Flour Mill lost 39k to end at N17.21k per share.

Also, Dangote Sugar depreciated by 30k to finish at N5.71k per share, Africa Prudential Registrars Plc declined by 14k to close at N2.72k per share and Zenith Bank went down by 10k to end at N13.90k per share.

Conversely, Forte Oil gained N2.35k to close at N49.36k per share and Nigerian Breweries rose by N2.18k to finish at N129 per share.

In the same vein, Okomu Oil appreciated by N2 to end at N48 per share, Guinness progressed by N1.39k to close at N63.50k per share, while GTBank advanced by 19k to finish the day at N24.90k per share.

The volume of shares transacted on the floor of the stock market today was not impressive as investors traded lower than what was achieved yesterday.

At the close of trading activities on Thursday, investors bought and sold a total of 186 million shares worth N1.75 billion executed in 2,899 deals.

However, investors are still upbeat that the three straight negative sessions would be upturned on Friday, the last trading day for the week.

Modupe Gbadeyanka

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Leave a Reply

naira depreciate
Previous Story

Naira Depreciates Further, Now N458/$

NSE Admits Nigeria’s $1b Eurobond
Next Story

NSE Admits Nigeria’s $1b Eurobond

Latest from Economy

Don't Miss