Nigerian equities market reached a new low on Tuesday, December 3, 2019, as investors continued to take profit in stocks.
Decline in stocks like Guinness, Stanbic IBTC, MTNN, Chemical and Allied Products, Lafarge Africa and others helped fuel the record loss.
Some market watchers had expected equities to shed value this week in the absence of catalysts that spur buy sentiment.
The NSE All Share Index (ASI) moved further down by 0.17percent from 26, 990.59 points to 26,944.32 points. Year-to-date (ytd) market negative return increased to -14.27percent.
The value of listed stocks also decreased to N13.004trillion. The bond market capitalisation stood at N13.14trillion while that of Exchange Traded Fund (ETF) was N6.483billion.
In 3,314 deals, equity investors exchanged 189,007,353 units valued at N2.88billion. Access Bank, GTBank, Zenith Bank, UBA and Fidelity Bank were actively traded stocks.
Guinness Nigeria Plc recorded the highest loss after its share price moved down from N31 to N29, losing N2 or 6.45percent.
Stanbic IBTC followed after its share price declined from N38.15 to N36.8, losing N1.35 or 3.54percent. MTNN also dipped from a high of N120 to N119, losing N1 or 0.83percent.
Chemical and Allied Products Plc (CAP) also decreased from N24.3 to N24, losing 30kobo or 1.23percent.
Lafarge Africa Plc was on the downtrend, moving from N14 to N13.85. It lost 15kobo or 1.07percent of its day-open value.
Okomu Oil Palm Plc recorded the highest gain seen Tuesday on the Bourse, moving from N49.65 to N54.55.
It gained N4.9 or 9.87percent. Unilever Nigeria Plc advanced from N17.7 to N18.45, adding 75kobo or 4.24percent. Flour Mills of Nigeria Plc increased from N18.25 to N19, adding 75kobo or 4.11percent.
Etranzact stock price rose from N2.38 to N2.61, adding 23kobo or 9.66percent, while UACN moved from N7.3 to N7.5, adding 20kobo or 2.74percent.
