• Friday, March 29, 2024
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Stanbic, Lafarge, MTNN, other stocks spur market’s N20bn loss

Investment sentiment for consumer goods stock may not improve in 2020

The Nigerian Stock Exchange (NSE) All Share Index (ASI) depreciated further by 0.16percent on Wednesday October 16. The market’s negative close pushed the NSE ASI to 26,472.20 points from a high of 26,513.65 points recorded the preceding day.

Thirteen (13) stocks gained as against 11 losers. Investors lost N20billion while the Year-to-Date (YTD) negative return stood at -15.78percent. The value of listed equities decreased from N12.906trillion to N12.886trillion.

In 2,487 deals, dealers exchanged 138,470,030 units valued at N3.604billion. Access Bank Plc, Global Spectrum Energy Services Plc, Zenith Bank Plc, Transcorp Plc, and FBN Holdings Plc were actively traded stocks on Wednesday on the Nigerian Bourse.

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Stanbic IBTC Holdings Plc led the laggards’ league after its share price decreased from day-open high of N37.05 to N36.25; losing 80kobo or 2.16percent.

Lafarge Africa Plc was also on the top losers table after its share price decreased from N16 to N15.35, losing 65kobo or 4.06percent. MTNN dipped from a preceding day high of          N129 to N128.5, losing 50kobo or 0.39percent. The share price of ETI Plc dropped from N7.2 to N7, losing 20kobo or 2.78percent, while Sterling Bank Plc decreased from N1.95 to N1.8, after losing 15kobo or 7.69percent. Nestle Nigeria Plc shares recorded the highest capital appreciation on the review day, moving from N1215.1 to N1220, adding N4.9 or 0.40percent.

Dangote Flourmills Plc also rose from N22.45 to N23.2, adding 75kobo or 3.34percent; GTBank Plc advanced from N26.65 to N27, adding 35kobo or 1.31percent. Africa Prudential Plc rose from N3.9 to N4, adding 10kobo or 2.56percent, while Nigerian Breweries Plc increased from N46 to N46.05, adding 5kobo or            0.11percent.