• Friday, March 29, 2024
businessday logo

BusinessDay

Investors book N86bn loss as large cap stocks lead laggards

Stocks jump most in 6 months as investors swoop on banks

Investors at the Nigerian Stock Exchange (NSE) booked loss of approximately N86billion on Wednesday February 27, 2019 as many largely capitalised companies occupied the list of 30 laggards as against 10 advancers.

The results for last weekend’s presidential and national assembly elections have been announced. President Muhammadu Buhari emerged victorious and has received his certificate of return from INEC.

At the sound of closing gong on the Nigerian Bourse, the All Share Index (ASI) decreased by 0.71 percent to 32,244.24 points, from preceding day high of 32,473.82 points while Market Capitalisation decreased from N12.110 trillion to N12.024trillion, implying value loss of about N86billion. The Year-to-Date (YtD) returns from listed stocks currently stand at +2.59percent.

Nestle Nigeria Plc recorded the biggest loss after its share price decreased from N1, 510 to close at N1, 500, implying a loss of N10 or 0.66percent. Unilever Nigeria Plc was another big loser after its share price dropped by N2 or 4.65percent, from N43 to N41.

Zenith Bank Plc also made the tope losers list, from N25.8 to N24.9, down by 90kobo or 3.49percent. Oando Plc declined from N7.25 to N6.55, losing 70kobo or 9.66percent. Dangote Sugar Refinery Plc lost 40kobo, from N15.4 to N15, representing 2.60percent decline.

In 5,416 deals, stock traders exchanged 456.071million units valued at N2.679billion. The volume of stocks traded represents an increase of about 41.56percent from preceding day level of 322.181 million, while the total value of stock traded increased by 10.07percent from N2.434 billion recorded the preceding trading day. Diamond Bank Plc, Fidelity Bank Plc, Access Bank Plc, Transcorp Plc and UBA Plc were actively traded stocks on the Nigerian Stock Exchange (NSE).

PZ Cussons Nigeria Plc stock price increased most by N1.15 or 9.35percent, from N12.3 to N13.45. It was followed by that of Julius Berger Nigeria Plc which advanced by N1 or 3.77percent, from N26.5 to N27.5.

The stock price of Union Bank of Nigeria Plc increased by 30kobo or 4.51percent; from an open price of N6.65 to close at N6.95. NASCON Plc advanced from N18.9 to N19.2, up by 30kobo or 1.59percent; while NPF Microfinance Bank Plc increased from N1.49 to N1.62, adding 13kobo or 8.72percent.

 

 

Iheanyi Nwachukwu