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NSE: Market falls lower amid sell pressure on Industrial Index, negative sentiment



The Nigerian bourse fell N161.746 billion lower on Monday as sell demand in Industrial stocks outweighed investors’ buy orders and negative sentiment remained rife in a market beset by the bear.

Sell pressure on the Industrial Index through huge loss by BUA Cement, Nigeria’s fourth biggest company by public value, and stocks like Nestle, Beta Glass, Julius Berger and C&I Leasing accounted for the downturn.

A negative ambience induced by three days of consecutive loss, believed by investors to be extended this week, also hurt trade.

A negative market breath was reported with 19 losers emerging against 14 losers.

The All Share Index (ASI) dipped by 1.27% to close at 24,026.05 basis points while the market capitalisation slipped to N12.533 trillion.

Year to date, the index is down by 10.49%.


Cornerstone led gainers today, growing by 10% to close at N0.55. NAHCO rose by 10% to close at N2.20. Zenith went up by 5.25% to N16.05. Flour Mills leapt to N18.50, notching up 5.11% in the process. Regal Insurance completed the top 5, climbing up by 0.22% to N4.76.

READ ALSO: NSE: Market extends loss by N20bn amid profit-taking in mid-cap stocks


Beta Glass topped the losers’ table today, declining by 9.95% to close at N61.55. Julius Berger shrank by 9.81% to end the day at N16.55. Livestock fell to N0.56, losing 9.68%. Prestige slumped to N0.47, recording a 9.62% loss. Unity tumbled to N0.47, going down by 9.62%.


Investors staked N2.785 billion on 189.691 million shares in 4,216 transactions today.

GTB was the most preferred stocks today with 60.469 million units of its stocks worth N1.276 billion traded in 606 deals. 25.335 million units of Access Bank shares priced at N161.348 million exchanged hands in 259 transactions. UBA had 8.778 million shares valued at N53.215 million traded in 202 deals. FBN Holdings traded 8.498 million shares estimated at N42.749 million in 171 transactions. Zenith traded 7.996 million shares valued at N125.818 million in 437 deals.

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