Business Latest

NSE: It’s the earnings season yet the market continues its bearish streak. What this means for listed companies

Investors lost N56bn as stock market resumes losing streak

t is the earnings season yet the bearish trend still has a hold of the Nigeria bourse. The Nigerian Stock Exchange (NSE) All-Share Index ended in 26,365.83 basis points from Tuesday’s trading session, down by 0.09%. Year to date the market is down by 16.11%.

Top 5 gainers

Courtville had the biggest gain of 10% to close at N0.22. Cutix Plc came next with a 9.92% gain. The stock closed at N1.44.

Cornerstone Insurance closed at N0.38, gaining 8.57%. Neimeth International Pharmaceutical closed at N0.40, gaining 8.11%.

Consolidated Hallmark Insurance rounds up the top 5 gainers, closing at N0.34 and gaining 3.03%.

READ ALSO:Lafarge Africa debunks reports of probe by SEC

Top 5 losers

Eterna topped the losers’ chart, shedding 9.52% to close at N2.85. Omoluabi Mortgage Bank was next with a 9.09% loss to close at N0.50. The stock has been witnessing large trades since last week, which is affecting the stock price negatively.

May & Baker Nigeria closed at N2, losing 8.68%. Law Union and Rock Insurance close at N0.47, losing 7.84%.

FCMB rounds up the top 5 losers, closing at N1.60 and lost 4.76%.

Top 5 trades

The market witnessed 694 million shares worth N7.8 billion exchanged hands in 2,780 deals.

Zenith Bank was the most traded stock by volume with 357.2 million shares valued at N6.2 billion traded in 348 deals. Omoluabi Mortgage Bank was next with 174.3 million shares valued at N95.8 million traded 5 deals.

Fidelity Bank traded 31.8 million shares worth N53.96 million in 120 deals. 28 million May and Baker Nigeria shares valued at N56.1 million were traded 5 deals.

GTBank rounds up the top 5 trades by volume with 25.3 million shares worth N666.3 million traded in 198 deals.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!