Oando, Honeywell, University Press push stock market further south

Nigeria’s equities market furthered its movement into the negative territory by 0.09 percent as more investors on Tuesday sold shares of Oando, Honeywell Flour Mills, University Press, Academy Press and UPDC.

The market’s performance indicators – the All Share Index (ASI) and equities market capitalisation – which opened the week on a negative note decreased further to 99,217.6 points and N56.126trillion.

The market’s year-to-date (YtD) return decreased to 32.69 percent at the close of trading on Tuesday.

Oando decreased most on the Bourse from N13.85 to N12.50, down N1.35 or 9.75percent. University Press also dropped from N2.75 to N2.50, down by 25kobo or 9.09 percent. Academy Press decreased from N2 to N1.84, down by 16kobo or 8percent. Honeywell Flourmills also made the top laggards league, after its share price moved from N3.40 to N3.13, shedding 27kobo or 7.94percent, while that of UPDC decreased from N1.40 to N1.29, losing 11kobo or 7.86percent.

In 8,511 deals, investors exchanged 361,572,937 shares worth N6.163billion. Transcorp, GTCO, Veritas Kapital Assurance, FBN Holdings and Access Holdings.