Flour Mills, Zenith, Lafarge, others drive NSE ASI further south

Nigeria’s equities market closed further in the red zone (-0.09 percent) on Tuesday as investors continued to take profit.

Stocks that were offered for sale by investors include Flour Mills Nigeria Plc, Zenith Bank Plc, Lafarge Africa Plc, Access Bank Plc, Guinness Nigeria Plc and others.

Seventeen stocks recorded price decline while 14 advanced in price.

Investors lost additional N16 billion at the close of trading session which fuelled the record dip in year-to-date (YtD) positive returns to +30.52 percent.

Read also: Nigeria’s equities market continues its downward trajectory

The Nigerian Stock Exchange (NSE) All Share Exchange (ASI) decreased from preceding day high of 35,064.36 points to 35,033.74 points while the value of listed equities on the bourse stood lower at N 18.310 trillion.

In 4,500 deals, investors exchanged 306,918,503 units valued at N3.274 billion. UBA, Zenith Bank, FBN Holdings, GTBank and ETI were actively traded stocks.

Flour Mills dipped most at the close of trading, after its share price dropped from N26.5 to N25.3, losing N1.2 or 4.53 percent.

Also, Zenith Bank was down from N23.7 to N23.4, after its share price declined by 30kobo or 1.27 percent.

Likewise, Lafarge Africa dipped from N22.8 to N22.5, losing 30kobo or 1.32 percent. Access Bank was down from N8.5 to N8.3, shedding 20kobo or 2.35 percent, while Guinness Nigeria went down from N17.9 to N17.8, losing 10kobo or 0.56 percent.