Nigerian stock market lost about N84.4billion at the sound of the Bourse closing gong on Tuesday February 26, 2019 as investors moved to take profit in stocks like Nestle Nigeria Plc, Union Bank of Nigeria Plc, FBN Holdings Plc, Zenith Bank Plc, and GlaxoSmithKline Consumer Nigeria Plc. The stock market closed with 21 gainers as against 20 losers.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.69percent, while the Year-to-Date (Ytd) return still stood positive at 3.32percent.
This negative comes on the heels of the market awaiting the announcement of the results of the recently concluded presidential and national assembly elections.
Vetiva research analysts had expected that stock trading will maintain a positive tilt in Tuesday’s session, noting that the anticipation of final election results and outcome continue to drive some cautious sentiment”.
The All Share Index closed at 32,473.82 points against the preceding day close of 32,700.12 points while Market Capitalisation closed at N12.110 trillion as against preceding day close of N12.194 trillion.
The volume of stocks traded increased by 46.57percent, from 219.8 million to 322.1million, while the total value of stocks traded decreased by 56.14percent, from N5.55billion to N2.43 billion in 4,066 deals.
Sunu Assurance Plc, Access Bank Plc, Diamond Bank Plc, UBA Plc and GTBank Plc were actively traded stocks.
Nestle Nigeria Plc recorded the highest loss after its share price declined from N1580 to N1510, losing N70 or 4.43percent. The value of Union Bank of Nigeria Plc stock price was also down by 60kobo, from N7.25 to N6.65, losing 8.28percent. FBN Holdings Plc declined from N8.3 to N8, losing 30kobo or 3.61percent. Zenith Bank Plc share price lost 20kobo or 0.77percent, from N26 to N25.8; while that of GlaxoSmithKline Consumer Nigeria Plc declined from N12 to N11.8, losing 20kobo or 1.67percent. On the gainers table, Guinness Nigeria Plc occupied topmost position after its share price advanced by N2.05, from N65.1 to N67.15, adding 3.15percent. Dangote Flourmills Nigeria Plc followed after rising from N11.05 to N12.05, up by N1 or 9.05percent. Oando Plc rallied from N6.6 to N7.25, up 65kobo or 9.85percent.
Seplat Petroleum Development Company Plc, a leading Nigerian indigenous oil and gas company listed on both the Nigerian Stock Exchange and London Stock Exchange, on Tuesday said it will issue its Full Year 2018 Financial Results on Wednesday March 6, 2019.
Iheanyi Nwachukwu
