The shares of BUA Cement Plc were mostly offered by investors on Tuesday at the Nigerian Exchange Limited (NGX) leading to moderated pricing of the stock.
Record dip in the share price of BUA Cement and others stocks like Wema Bank Plc, and Ellah Lakes Plc contributed majorly to the market’s N275billion loss while the All-Share Index (ASI) decreased by 0.40 percent ahead of the Treasury Bills (T-Bills) auction for March.
The Central Bank of Nigeria (CBN) will on Wednesday March 19 conduct its third Treasury Bills (T-Bills) Primary Market Auction (PMA) for March.
At this auction, the CBN will offer a total of N800billion across three tenors: N100billion for 91-day bills, N200billion for 182-day bills, and N500billion for 364-day bills.
Read also: BUA Cement proposes N2.05 final dividend as FY profit hits N73.9bn
BUA Cement share price decreased most by N9.30 or 10 percent, from N93 to N83.70. Ellah Lakes share price dropped by 16kobo or 4.82percent, from N3.32 to N3.16, while Wema Bank was down by 45kobo or 4.19 percent, from N10.75 to N10.30.
On the gainers list, NNFM led the advancers after its share price increased from N72.55 to N79.80, adding N7.25 or 9.99 percent, while Custodian Investment moved up from N19.60 to N21.50, adding N1.90 or 9.69 percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities market capitalisation decreased further on Tuesday from preceding day’s 105,799.17 points and N66.343trillion to 105,360.19 points and N66.068 trillion.
Access Holdings, Universal Insurance, Fidelity Bank, Jaiz Bank and Zenith Bank were most traded stocks as investors in 11,022 deals exchanged 343,750,930 shares worth N7.985billion.
The market has decreased this week by 0.55 percent, while this month it has decreased by 2.27 percent. The market’s positive return year-to-date (YtD) also dropped to 2.38 percent.
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