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Nigerian equities market records 0.17% decline as investors lose N16.5bn



NSE market indices sustain growth on impressive Q1 earnings

Investors on the Nigerian equities market lost N16.5 billion on Thursday as the market capitalisation closed the day at N9.675 trillion. This is in contrast to a growth of N1.6 billion recorded on Wednesday when the market capitalisation settled at N9.691 trillion. The Nigerian Stock Exchange All Share Index (NSE ASI) similarly declined by 0.17 percent to close at 28166.42 points against a 0.02 percent growth recorded previously to close at 28,214.57 points.

The performance of the market was consequent on profit taking in Dangote Cement Plc that dropped by 1.64 percent or N3 to settle at N180 per share, Guaranty Trust Bank Plc decline of 3.51 percent or 94 kobo to close at N25.83 per share, Guinness Nigeria Plc’s depreciation of 0.25 percent or 23 kobo to close at N92.77 per share, Nigerian Aviation Handling Company (NAHCO) Plc fell 4.60 percent 16 kobo to close at N3.32 per share and a 1.04 percent or 12 kobo decrease in share price of ETI Plc which closed at N11.38 per share.

As a result, the day’s performance enlarged the Year to Date (YtD) losses to -1.66 percent while Week to Date (WtD) returns waned to 1.09 percent.

Trading activities showed investors’ sentiment turned negative as market breadth closed with 18 gainers to 22 losers.

Caverton Plc led the day’s declining stocks with a loss of 9.09 percent or 11 kobo to close at N1.10 per share, followed by Continental Reinsurance Plc that lost 4.95 percent or 5 kobo to close at 96 kobo per share, Nigerian Aviation Handling Company Plc also dropped 4.60 percent or 16 kobo to close at N3.32 per share, Honeywell Flour Mills Plc fell 4.26 percent or 6 kobo to close at N1.35 per share and Neimeth Pharmaceuticals Plc depreciated 4.08 percent or 4 kobo to close at 94 kobo per share.

On the flip side, Oando Plc topped the day’s advancing stocks with a gain of 7.14 percent or 40 kobo to close at N6 per share. Zenith Bank Plc followed with a growth of 5.27 percent or 79 kobo to close at N15.79 per share, Total and Mobil Nigeria Plc appreciated 5 percent each or N13.50 and N8.55 respectively to close at N283.50 per share and N179.55 per share, while Forte Oil emerged the 5th top gainer also adding 5 percent to close at N163.11 per share.

Market activity as measured by Volume and Value traded, settled at 410 million units and N3.6 billion respectively, against 3.1 billion units and N6.2 billion traded previously. The day’s transactions were taken in 4,179 deals with the three most traded stocks as Diamond Bank Plc with the sale of 141.4 million shares worth N164.4 million. FCMB Plc came second trading 48.1 million units of shares amounting to N48.2 million while FBNH Plc exchanged 40.8 million shares worth N126.3 million.

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