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Nigeria Capital Market shrinks further by 0.56%

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NSE market indices sustain growth on impressive Q1 earnings

The Nigerian capital market retracted again on Tuesday as more listed companies recorded losses and a few stocks gained on the day.

Leading indicator, the All Share Index, ASI, closed the day at 25,840.18, representing 0.56 percent shortfalls from Monday’s position.

Market capitalisation also fell to N8.89 trillion from the previous day position of N8.94 trillion. 179,993,481stocks were traded in 2,174 deals valued at N798.82m.

WAPCO led the decliners as it closed the day at N43.32 against N48. It has negative growth of N43.32 or 8.33 percentage loss. Dangote Cement also shed N2.50 or 1.52 percent to close at N161.50.

Conoil closed with N34.11 which represents 4.99 percentage loss. International Breweries also lost 89kobo or 4.47 percent to end the day at N19. Forte Oil experienced loss for the second day of the week when it closed with N94 shedding 32kobo or 0.34 percent to complete the top 5 losers.

On the positive side, Mobil Nigeria gained N5 to close at N195 and 2.63 percent gain. Guaranty Trust Bank advanced by 90kobo to gain 4.29 percent and closed at N21.90. Nigerian Breweries appreciated by 0.31kobo or 0.22 percent to close at N142.31. Custodian Insurance grew marginally by 18 kobo to close at N3.81 which represents 4.96 percentage growth.

Top traded stocks were led by Standard Alliance Insurance with 95m shares valued at N47.5m. Eterna had 10.75m stocks traded at N32.9m, First Bank Holdings sold 10.39 shares Worth N31.79m.

Meanwhile, the continued negative results have been attributed to continued investors’ apprehension towards the equities market, given the weak economic fundamentals.

Sunday Ojelabi

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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