Nigeria’s stock market rerouted back to the negative territory at the sound of closing gong on Monday March 25 as more investors chose to sell their stocks than they bought. Only twelve (12) stocks gained against 19 losers.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.31percent, while the Year-to-Date (ytd) return stood at -1.24percent.
The All Share Index closed at 31,042.32 points as against the preceding day close of 31,139.35 points while Market Capitalisation closed at N11.576 trillion as against preceding trading day close of N11.612trillion, implying a decline of N36billion.
The volume of stocks traded decreased by 27.03percent, from 231.23million to 168.72million, while the total value of stocks traded increased by 43.37percent, from N2.61billion to N3.75billion in 3,048 deals.
The Financial Services sector led the activity chart with 150.2million shares exchanged for N2.96billion; followed by Consumer Goods with 6.20million shares traded for N351million.
Mobil Nigeria Plc stock price recorded the highest decline, from N170 to N167, down by N3 or 1.76percent. It was followed by Nestle Nigeria Plc which dipped by N2 or 0.13percent, from N1500 to N1498.
Dangote Cement Plc also declined from N189.7 to N188.5, losing N1.2 or 0.63percent. NASCON was down from N20 to N19, losing N1 or 5percent. Cement Company of Northern Nigeria Plc dipped from N20.9 to N20, down by 90kobo or 4.31percent.
On the gainers table, Stanbic IBTC Holdings Plc occupied topmost position after its share price advanced from N45.5 to N48.5, up N3 or 6.59percent.
It was followed by Red Star Plc which moved up from N5 to N5.5, adding 50kobo or 10percent. Union Bank of Nigeria Plc stock price increased from N6.85 to N7.05, adding 20kobo or 2.92percent.
University Press Plc advanced from N1.85 to N2, adding 15kobo or 8.11percent; while Dangote Sugar Refinery Plc increased from N14 to N14.1, up 10kobo or 0.71percent.
Iheanyi Nwachukwu
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