BUA Foods, Nascon, International Breweries, others cause market’s over N110bn loss

Nigeria’s equities market decreased further by 0.40percent or about N111billion on Tuesday as more investors sold among others the shares of BUA Foods Plc, Nascon Plc, and International Breweries Plc.

Week-to-date (WtD), the market has decreased by 0.47percent while the positive returns year-to-date (YtD) stood lower at 20.76percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s highs of 51,791.45 points and N27.921trillion to 51,586.5 points and N27.810 trillion respectively.

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BUA Foods Plc led the league of decliners after its share price decreased from N55 to N51.50, down by N3.50 or 6.36percent. Nascon Plc also decreased from N11.75 to N11, losing 75kobo or 6.38percent; followed by International Breweries Plc which was down from N6.30 to N5.70, after shedding 60kobo or 9.52percent.

CAP Plc, GTCO Plc, UBA Plc, Transcorp Plc and Sterling Bank Plc were top 5 traded stocks on Tuesday. In 4,646 deals, investors traded 234,605,011 shares valued at N2.569billion.

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