NSE: Investors further lose N87bn in depressed, unimpressive trading

NSE: Investors further lose N87bn in Depressed, unimpressive trading
Written by Maritime First

…As Flour Mills, Consolidated Hallmark Insurance lead Losers’ chart***

The dual impact of depressed sentiment and unimpressive earnings on Thursday affected trading on the Nigerian Stock Exchange (NSE) dragging market capitalisation to a loss of N87 billion.

The loss subsequently pushed down capitalization from N13 trillion mark, by 0.62 percent to close at N13.965 trillion as against N14.052 trillion posted on Wednesday.

Also, the All-Share Index dipped 166.14 points or 0.62 per cent to close at 26,808.24 points against 26,974.38 on Wednesday, on the account of investors’ sell-off of banking stocks.

Month-to-Date and Year-to-Date losses increased to -7.06 per cent and -0.13 per cent, respectively.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which were; Stanbic IBTC Holdings, Flour Mills, Nigerian Breweries, Guaranty Trust Bank and UACN.

Market breadth closed negative, with 13 gainers compared with 19 losers.

Flour Mills led the losers’ chart in percentage terms, declining by 8.70 per cent, to close at N21 per share.

Consolidated Hallmark Insurance followed with 6.90 per cent to close at 27k, while NPF Micro Finance lost 6.25 per cent to close at N1.05 per share.

Stanbic IBTC Holdings shed 6.23 per cent to close at N36.10, while Oando dropped 5.66 per cent to close at N3 per share.

Conversely, Jaiz Bank dominated the gainers’ table in percentage terms with 9.43 per cent, to close at 58k per share.

Law Union and Rock Insurance followed with 7.95 per cent to close at 95k, while Nigerian Aviation Handling Company appreciated by 7.04 per cent to close at N2.89 per share.

May and Baker grew by 4.81 per cent to close at N1.96, while AIICO Insurance appreciated by 3.66 per cent to close at 85k per share.

Zenith Bank was the toast of investors with 45.57 million shares valued  N868.09 million.

Nigerian Breweries followed with an account of 39.498 million shares worth N1.78 billion, while Guaranty Trust Bank sold 35.62 million shares valued  N949.08 million.

Also read:  NSE: Investors lose N31bn as Market capitalisation dips 0.22%

United Bank for Africa accounted for 25.50 million shares worth N177.20 million, while FBN Holdings transacted 18.61 million shares valued  N99.21 million.

In all, the total volume of trades increased by 1.38 per cent as investors bought and sold 221.54 million shares worth N4.48 billion exchanged in 3,606 deals.

This was in contrast to a turnover of 228.38 million shares valued N2.74 billion transacted in 3,831 deals on Wednesday.


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Maritime First