• Tuesday, September 26, 2023
businessday logo


Nigerian stock market opens week on a negative note

Stock market

Nigerian stock market was unable to sustain last week’s rally following a record 0.88percent decline recorded by the All Share Index (ASI).

At the sound of closing gong on Monday January 21, only 14 stocks gained as against 18 losers. The year-to-date (YtD) returns currently stands at -2.22 percent.

The Nigerian Stock Exchange All Share Index closed lower at 30,732.72 point, from a high 31,005.17 points last Friday while the value of listed stocks decreased by about N102billion from last Friday level of N11.562trillion to N11.460trillion.

In 3,874 deals, stock traders exchanged 499,211,855 units valued at N5.531billion. Diamond Bank Plc, GTBank Plc, Zenith Bank Plc, NEM Insurance Plc, FBN Holdings were actively traded stocks on the Bourse.

Seplat recorded the highest decline, from N576 to N530, down by N46 or 7.99percent. Mobil Oil Nigeria Plc followed after declining from N188 to N180, losing N8 or 4.26percent; while Dangote Cement Plc lost N4.9 or 2.51percent, from N194.9 to N190. The share price of Lafarge Africa Plc declined from N12.8 to N12.4, losing 40kobo or 3.13percent.

On the advancers’ league, Cement Company of Northern Nigeria Plc recorded highest gain after rising from N25.1 to N26.9, up by N1.8 or 7.17percent; NEM Insurance Plc followed after rising from N2.48 to N2.6, up by N12 or 4.84percent; while FCMB Group Plc advanced from N1.76 to N1.83, up 7kobo or 3.98percent.


Iheanyi Nwachukwu