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Nigeria: NSE – Inverstors Lose U.S.$294 Million Amid Worsening Market Sentiment

The Industrial Index was the worst performer of the five sectoral indices, declining by 1.19% to 2,043.63 index points.

Equity investors lost N112.053 billion on Thursday as Nigerian stocks went down by 0.51 per cent, marking the fourth time the bourse would post a loss this week as shares were dumped for sale in large numbers.

Selling pressure on the shares of Dangote Cement, Julius Berger, NNFM, Champion Breweries and Zenith Bank primarily drove the day’s loss.

The Industrial Index was the worst performer of the five sectoral indices, declining by 1.19% to 2,043.63 index points.

Market breadth was negative as 25 losers emerged against 22 gainers.

The All Share Index (ASI) closed at 41,785.80 basis points while market capitalisation fell to N21.859 trillion.

Year to date, the index is up by 3.76%

TOP FIVE GAINERS

African Alliance Insurance led gainers, growing by 10% to close at N0.22. Guinea Insurance gained 10% to close at N0.22. McNichols rose by 9.84% to N0.67. Wapic leapt to N0.59, notching up 9.26% in the process. May & Baker completed the top 5, climbing up by 7.69% to N4.90.

TOP FIVE LOSERS

NNFM topped the losers’ table, declining by 9.94% to close at N7.88. Champion Breweries shrank by 9.73% to end the day at N3.06. Linkage Assurance fell to N0.66, losing 9.59%. FTN Cocoa dipped to N0.48, recording 9.43% loss. Jaiz Bank closed at N0.68, going down by 9.33%.

TOP FIVE TRADES

629.410 million shares worth N7.981 billion were traded today in 4,753 deals.

FBN Holdings was the most preferred stocks today with 126.358 million units of its stocks worth N923.179 million traded in 192 deals. 87.213 million units of GTB shares priced at N2.879 billion exchanged hands in 288 transactions. Union Bank had 78.442 million shares valued at N454.964 million traded in 37 deals. FCMB traded 66.492 million shares estimated at N232.243 million in 66 transactions. Transcorp traded 40.960 million shares valued at N41.301 million in 150 deals.