Nigeria’s equities market failed to sustain preceding trading day’s gains as large cap stocks like Nestle Nigeria Plc, Dangote Cement Plc and BUA Cement Plc occupied led the basket of
counters that contributed to the record 1.36percent dip seen on Thursday April 23.
This month, the market has yielded positive return of 5.49 percent, this week it has lost 1.97 percent of its value; while year-to-date return is in negative of -16.29percent.
Analysts expect Thursday’s bearish pattern to filter into Friday trading session. Though, bargains in some of the heavyweight decliners might support a positive close to the week.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased to 22,470.79 points from preceding day high of 22, 780.30 points.
The value of listed stocks on the Nigerian Bourse also decreased to N11.710trillion as against N11.872trillion on Wednesday, representing a decline of N162billion.
Nestle dipped most from N975 to N910, down N65 or 6.67percent. Dangote Cement Plc. Dangote Cement was also down from N136 to N131.5, losing N4.5 or 3.31percent. BUA Cement joined the league of top laggards, from N34.85 to N33, losing N1.85 or 5.31percent.
Stanbic IBTC Holdings Plc advanced most, from
N27.5 to N28.5, adding N1 or 3.64 percent. Cadbury Nigeria Plc also increased from N6.3 to N6.9, rising by 60kobo or 9.52percent, while Lafarge Africa Plc increased from N11.35 to N11.7, up by 35kobo or 3.08percent.
Access Bank Plc, FBN Holdings Plc, Zenith Bank Plc, United Capital Plc and GTBank Plc were actively traded stocks on Thursday.
In 3,381 deals, equity dealers exchanged 201,475,387 units valued at N3.358billion.
