Home Business News Stock market opens week sluggishly, investors lose N107bn

Stock market opens week sluggishly, investors lose N107bn


Equities market conducted on the Nigerian Stock Exchange (NSE) today closed on negative trajectory with the benchmark indices shedding 0.75 percent, value declined by N107 billion.

In specific terms, the All-Share Index declined by 295.11 absolutes points to close at 39,028.51 as against 39,323.62 it commenced trading for the day. Market capitalization also dipped N109 billion to close at N14.244 trillion from N14.137 trillion. Its Year-to-Date (YTD) returns currently stands at +2.05 percent.

Market breadth closed negative, while the price movement chart revealed that 43 stocks participated in the active trading with 33 losers and 10 gainers. Westafrica Portland Cement Company (WAPCO) led on the losers table. The manufacturing giants’ share price crashed N2.00, representing four percent closed at N38.5 per share.

Listed in Oil and Gas Sector of the NSE, MRS Pls dipped N1.8 or four percent to close at N34.25 per share, Guaranty Trust Bank Plc lost 95 kobo or two per cent to close at N41 per share.

Zenith Bank and FBN Holdings dipped N26.1 and N9.25 to close at 0.55 and 45 respectively.

Against odds, Dangote Cement led on the gainers table with N1.00, translating to 2.0 percent to close at N245 per share.

It was followed by Flourmill with value addition of six kobo or two percent to close at N30.1 per share, while Eterna Oil was up 26 kobo or or 4.9 percent to close at N5.53 per share and Ikeja Hotel added 12 kobo or 4.6 percent to close at N2.7 per share.

Dangote Sugar occupied the fifth place in the rank of top five. The manufacturing company added five kobo or three percent to close at NN16.55 per share.

In all, investors exchanged 222.315 million shares valued at N1.642 billion in 4,461 deals.