NSE LIVE! Equities lose N54b in opening trades

Nigerian equities started this week on a negative note as a combination of slowdown in bargain-hunting and profit-taking weighed down the overall market situation. After a two-day consecutive rally that closed last week, short-term speculative investors returned to the market on Monday to book their profit. Besides, with most of the major earnings reports and accounts already released, there appeared to be a slowdown in bargain-hunting, which intensity had been driven by positioning for dividend yields.

The All Share Index (ASI)-the value-based common share index that tracks prices of all quoted equities, dropped by 0.62 per cent to close at 25,349.07 points as against its opening index of 25,507.09 points. Aggregate market value of all quoted equities dropped by N54 billion from N8.774 trillion to close at N8.720 trillion. With this, the negative average year-to-date return worsened to -11.50 per cent.

Most sectoral indices closed in the red. The NSE Consumer Goods Index dropped by 2.3 per cent. The NSE Industrial Goods Index declined by 0.5 per cent. The NSE Banking Index slipped by 0.9 per cent. The NSE Insurance Index declined by 0.1 per cent. However, the NSE Oil & Gas Index appreciated by 0.54 per cent.

Nestle Nigeria, NSE’s highest-priced stock, led 23 other stocks on the losers’ list with a loss of N10 to close at N690. Nigerian Breweries followed with a loss of N3.78 to close at N102.61. Ashaka Cement declined by N2.22 to close at N20.58. Lafarge Africa dropped by N1.51 to close at N75 while Okomu Oil Palm lost N1.49 to close at N28.36.

On the upside, Seplat Petroleum Development Company led the 16-stock gainers’ list with a gain of N6.05 to close at N306.05. Total Nigeria followed with a gain of N3.78 to close at N157.60. Dangote Cement rose by N1 to close at N172. Custodian and Allied chalked up 18 kobo to close at N3.90 while E-Tranzact garnered 13 kobo to close at N2.80 per share.

Total turnover stood at stood at 246.68 million shares valued at N1.65 billion in 3,213 deals. The three most active stocks were FCMB Group, with 48.36 million shares; Fidelity Bank, 28.28 million shares and Guaranty Trust Bank, recorded a turnover of 24.97 million shares. The most active sectors were financial services, with turnover of 198.73 million shares; conglomerates, 23.38 million shares and consumer goods sector, which recorded a turnover of 8.42 million shares.

 

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