The Nigerian equities market is still awash with sell pressure, a development that has continued to push stock prices down.
Since this week, the bears have reigned supreme at Customs Street, thereby impacting negatively on the performance indicators of the Nigerian Stock Exchange (NSE).
At the close of deals yesterday, the NSE All Share Index (ASI) declined further to 35,751.39 points from the preceding trading day’s 35,861.59 points; while the equities market capitalisation closed lower at N11.295trillion from the preceding level of N11.521trillion, indicating a loss of N226billion.
In 7,382 deals, investors exchanged 461,277,105 shares valued at N5.396billion.
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Leading the market laggards yesterday was Total Nigeria plc which dipped from N165.07 to N157, after shedding N8.07; Cadbury followed after its share price dropped from N55 to N50, losing N5. Nigerian Breweries plc declined from N155 to N150.01, losing N4.99; PZ Cussons plc also dipped from N45 to N40.50, shedding N4.50; while UACN plc declined from N57.25 to N53 after losing N4.25.
In another development, Nestle Nigeria plc led the gainers after its share price rose from N991 to N993, adding N2. Northern Nigeria Flour Mills plc rose from N25.91 to N26.50, adding N0.59.
Other gainers include Champion Breweries plc which rose from N5.32 to N5.85, after adding N0.53. Dangote Sugar plc rose from N9.83 to N10.35, adding N0.52; while Ecobank Transnational Incorporated plc rose from N14.50 to N14.99, adding N0.49.
