Dip In Nestle, MTN Triggers N153.6bn Loss
ISMAIL MUSA
Following huge declines recorded by Nestle, and MTN Nigeria, the Nigerian equities market closed negative on Monday, investors lose in the equities segment of the capital market closed at –N153.59billion.
The NSE-ASI shed 1.05 per cent to close at 27,772.19pts. Market breadth index was somewhat flat with 17 losers against 16 gainers.
The equities market capitalisation closed loser at N14, 464,435 trillion, having opened the week at N14, 618,025 trillion, reflecting N153.59 billion dip.
NESTLE opened the week as the highest loser with N138 or 10.00 per cent decline, to end the day at N1242 per share, followed by MTN Nigeria which declined by N2 or 1.71 per cent, closing at N115 per share, while WAPCO as the third highest loser, dipped by N0.25 or 1.63 per cent, to close at N15.05 per share.
GUARANTY closed as the fourth highest loser, having declined by N0.2 or 0.68 per cent, to close Monday at N29.3 per share, while FBNH closed the top five decliners chart at N5.85 per share, following N0.15 or 2.50 per cent loss in share price.
Sector performance Monday showed that NSE Consumer Goods Index declined by 4.75 per cent, as a result of the 10.00 per cent, declines in NESTLE, MAYBAKER’s -6.91 per cent decline and HONYFLOUR’s -0.91 per cent dip. NSE Oil & Gas Index dipped 0.55 per cent, due to the 4.17 per cent loss in OANDO
NSE Banking Index depreciated 0.54 per cent on the back of the sell-offs in FIDELITYBK which declined 1.84 per cent, ACCESS by -1.53 per cent, GUARANTY by -0.68 per cent and UBA by -0.65 per cent. However, the NSE Industrial Index rose by 0.76 per cent, due to the buy-interest in BUACEMENT which appreciated 1.69 per cent.
The equities market closed down Monday as a result of the losses recorded in most sectors, even as some investors continue to take positions in quality names with a medium to long time investment horizon as prices remain attractive at current levels.
To lead the gainers, BUACEMENT with N0.6 or 1.69 per cent growth in share price, emerged as the highest gainer on Monday, to close the trade at N36 per share. UPDCREIT followed with N 0.2 or 6.25 per cent growth, closing trade higher at N3.4 per share, while NPFMCRFBK, as the third-best gainers rose by N0.11 or 9.82 per cent, ending trade at N1.23 per share.
AFRIPRUD, as the fourth-best gainer appreciated by N0.1 or 2.22 per cent, closing the trade at N4.6 per share, while LAWUNION closed the top five gainers chart at N1.2 per share, following growth by N0.09 or 8.11 per cent.
To emerge as the most active stock on Monday, FBNH recorded 35,908,568 million shares, valued N212,055,243.75 million transacted by investors, followed by TRANSCORP with 24,625,723 million shares worth N23,575,237.92 million, while ZENITHBANK as the third most active stock Monday polled 18,571,034 million shares valued N369,052,604.30 million.
UACN placed fourth in Monday’s activity chart with 14,163,566 million shares worth N120, 220,151.70 million, while FIDELITYBK closed as the fifth most active stock with a turnover of 11,730,646 million shares worth N24, 919,058.45 million
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