Equity investors on Custom Street booked N10 billion loss at the close of trading on Tuesday October 9 as the Nigerian stock market failed to sustain the gains recorded preceding day.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.08 percent while the year-to-Date (Ytd) return stood at minus 15.23 percent. When the closing gong was sounded only 20 stocks gained against 21 losers.
This negatives come on the heels of Afrinvest research analysts’ anticipation that the sell-offs witnessed in the prior week will usher in bargain hunting in bellwethers this week.
Their counterparts at United Capital Plc also anticipate a mixed sentiment as investors hunt bargains on notable tickers as concerns in the polity persist.
The All Share Index closed down at 32,417.70 points against the preceding day close of 32,444.96 points while Market Capitalisation closed at N11.835 trillion as against preceding day close of N11.845 trillion, representing a decline of N10 billion.
Many companies have issued notices of their closed period signposting time to release their nine-month 2018 scorecards. The closed period is intended to prevent trading in the companies shares by its insiders/interested parties ahead of the release of their financial results.
The volume of stocks traded increased by 189.29 percent, from 120.82 million to 349.52 million, while the total value of stocks traded increased by 9.43 percent, from N1.338 billion to N1.464 billion in 2,832 deals.
Unilever Nigeria Plc recorded the biggest dip after its share price declined by N3 or 6.67percent, from N45 to N42. Nigerian Breweries Plc followed after losing N2 or 2.22percent, from N90 to N88.
International Breweries Plc stock price also declined by N2 or 6.15percent, from N32.5to N30.5; Northern Nigeria Flour Mills Plc lost 60kobo or 9.23percent, from N6.5 to N5.9; while Presco Plc declined from N53.35 to N53, down by 35kobo or 0.66percent.
On the advancers table, Nestle Nigeria Plc stock price rallied most, from N1400 to N1405, up by N5 or 0.36percent; Okomu Oil Palm Nigeria Plc increased from N73.2 to N75.8, up N2.6 or 3.55percent.
Chemical and Allied Products Plc stock price increased from N28.45 to N30, up N1.55 or 5.45 percent. Cadbury Nigeria Plc gained 65kobo or 6.74 percent, from N9.65 to N10.3; while GTBank Plc stock price gained 45kobo, from N36.55 to N37, up 1.23 percent.
The Financial Services sector led the activity chart with 324.29 million shares exchanged for N880 million; followed by Consumer Goods with 7.7 million shares traded for N355 million. Royal Exchange Plc, FCMB Plc, GTBank Plc, Fidelity Bank Plc, and Zenith Bank Plc were actively traded stocks on the Nigerian Bourse.
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