• Friday, March 29, 2024
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Investors lose additional N79bn as negative sentiment persists on Nigerian bourse

Investors

Nigeria’s equities market closed on Wednesday March 27 on a negative note. The Nigerian Stock Exchange (NSE) All Share Index (ASI) depreciated further by 0.67percent at the sound of closing gong on the 9th floor of the Exchange.

The NSE ASI closed at 30,829.45 points as against preceding day high of 31,038.86points. The value of listed stocks decreased from N11.671 trillion to N11.592trillion, implying value decline of N79billion. The stock market’s Year-to-Date (YtD) return currently stands at -1.91percent. Only eleven (11) stocks gained against 19 losers.

Seplat Petroleum Development Company Plc recorded the highest value decline after its share price declined from N550 to N540, down by N10 or 1.82percent. Presco Plc also declined from N64.5 to N62, losing N2.5 or 3.88percent. Stanbic IBTC Holdings Plc lost N2.5 or 5.15percent, from N48.5 to N46.

Guinness Nigeria Plc dipped from N64 to N62.45, losing N1.55 or 2.42percent; while GTBank Plc declined from N37.4 to N36, down by N1.4 or 3.74percent. On the gainers table, Okomu Oil Palm Plc recorded the highest share price advance, from N79 to N80, adding N1 or 1.27percent. Cadbury Nigeria Plc moved up from N10.85 to N11.2, adding 35kobo or 3.23percent.

Zenith Bank Plc increased from N21.7 to N22, up by 30kobo or 1.38percent. Union Bank Plc rose from N6.9 to N7.1, up 20kobo or 2.90percent; while Cutix Plc increased from N1.85 to N2.03, adding 18kobo or 9.73percent.

In 2,786 deals, investors exchanged 131,430,329 units valued at N1.403billion. Actively traded stocks include Zenith Bank Plc, Sterling Bank Plc, Access Bank Plc, UBA Plc, and FCMB Plc.

 

Iheanyi Nwachukwu