Equities market opens month with N104.2bn loss

The Nigerian equities market opened the month sustaining negative sentiments associated with the coronavirus pandemic globally. On Tuesday the market capitalisation of equities on the Nigerian Stock Exchange (NSE) left N11 trillion mark to settles at N10.997 trillion having lost N104.2 billion at the end of the trading session.

Similarly, the All-Share Index (ASI) depreciated by 199.93 absolute points, representing a dip of 0.94 per cent to close at 21,100.54 points.

The downtrend was impacted by loses recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, Unilever Nigeria, Guinness, Flour Mills Nigeria and Nigerian Breweries.

Market breadth was negative, with six gainers versus 26 losers. MTN Nigeria recorded the highest price gain of 9.33 per cent, to close at N93.40 kobo per share. International Breweries followed with a gain of 9.18 per cent to close at N5.35, while Live Stock appreciated by 8.47 per cent to close at 64 Kobo per share.

Conversely, Unilever led decliners’ chart having depreciated by ten per cent to close at N9.90 per share, while Dangote Cement shed N12.90 kobo or 9.95 per cent from its share value to close at N116.80 kobo. Guinness followed closely having depreciated by 9.92 per cent to close at N22.70 kobo per share.

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However, the volume of shares traded decreased to 154.6 million shares, worth N1.8 billion, and traded in 3,415 deals. Transactions in the shares of Zenith Bank topped the activity chart with 38.7 million shares valued at N443.6 million. Guaranty Trust Bank followed with 22.3 million shares worth N391.1 million, while FBN Holdings traded 14.1 million shares valued at N58.6 million.

Access Bank traded 14.1 million shares valued at N81.4million, while Fidelity Bank sold 10.7 million shares worth N18.9 million.

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