Cadbury, Honeywell, Capital Hotel, others cause market to see first dip this week

The stock market of Africa’s largest economy on Thursday recorded its first decline (-0.13percent or N33billion) this week, after three days of gains. Despite the record negative close, the market has increased this week by 0.44 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and its Market Capitalisation depreciated from 48,426.49 points and N26.376trillion respectively to 48,365.14 points and N26.343trillion.

Stocks like Cadbury, Honeywell Flour Mills, Capital Hotel, Coronation Insurance and ABC Transport occupied topmost position among other laggards.

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Cadbury dipped most, from preceding day’s high of N11.20 to N10.70, down by 50kobo or 4.46percent. It was followed by that of Capital Hotel which dropped from a high of N3.06 to N2.76, losing 30kobo or 9.80 percent and Honeywell Flour Mills which dropped from N2.42 to N2.20, losing 22kobo or 9.09percent.

Meanwhile, PZ Cussons led the gainers league after its share price moved up from N10.90 to N11.50, adding 60kobo or 5.50percent.

Also, the market’s year-to-date (YtD) positive return decreased to 13.22 percent. Month-to-date (MtD), the market has increased by 1.48percent.

ETI, FBN Holdings, Transcorp, Access Corporation and Sterling Bank were top-5 traded stocks on the Nigerian Exchange Limited. In 3,391 deals, investors exchanged 148,157,849 shares valued at N2.980trillion.

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