• Thursday, June 20, 2024
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International Breweries, Fidelity, others push market further south

Stocks shed N160bn in week ended August 19

Nigeria’s equities market moved further into the negative region on Tuesday, caused by record decrease in shares of International Breweries Plc, Fidelity Bank Plc and others; while PZ Cussons Plc and FCMB Group occupied the top advancers’ list as investors continued to taking profit on the Bourse while others bargain hunt across board.

International Breweries Plc decreased most on Tuesday from day-open high of N5 to N4.50, losing 50kobo or 10percent, followed by Fidelity Bank Plc which decreased from preceding day high of N3.28 to N3.12, shedding 16kobo or 4.88percent.

On the gainers table, PZ Cussons Plc increased most from N10.20 to N11.20, adding N1 or 9.80percent; while FCMB Group rose from a low of N3.11 to N3.40, adding 29kobo or 9.32percent.

Read also: Equities market sees first gain this week

The stock market’s benchmark performance indicator –All Share Index (ASI) decreased by 0.11 percent from preceding day’s 46,893.86points to 46,843.09 points. Also, the value of stocks listed on the Nigerian Exchange Limited (NGX) decreased by about N28billion, from preceding day’s N25.273trillion to N 25.245trillion.

In 4,125 deals, investors exchanged 214,327,583 shares valued at N1.79 billion. The market’s positive return year-to-date (YtD) reached new low of 9.79 percent, while month-to-date (MtD) the market has decreased by 1.05percent.