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Stock market sheds N17bn as investors sell International Breweries, Zenith, others

Stock market sheds N17bn as investors sell International Breweries, Zenith, others

Nigeria Stock Exchnage

Nigeria stock market was down by 0.14percent or N17billion at the close of trading on Thursday February 21, 2019 as investors rushed to take profits in equities like International Breweries Plc, Zenith Bank Plc, PZ Cussons Plc, Dangote Flourmills Plc, and UAC of Nigeria Plc.

Twenty (20) stocks gained as against 15 losers; the Year-to-Date (YtD) return currently stands at +3.62percent.

The share price of International Breweries Plc decreased from N29 to N26.25, losing N2.75 or 9.48percent.

Zenith Bank Plc followed after its share price declined from N25.8 to N25.3, losing 50kobo or 1.94percent. PZ Cussons Nigeria Plc declined from N12.65 to N12.35, losing 30kobo or 2.37percent; followed by Dangote Flourmills Plc which declined from N9.95 to N9.7, losing 25kobo or 2.51percent.

Read Also: https://businessday.ng/exclusives/article/endsars-rush-to-clear-backlog-of-cargoes-return-empty-containers-worsens-traffic-on-apapa-roads/

UAC of Nigeria Plc stock price decreased from     N9 to N8.8, losing 20kobo or 2.22percent. Dangote Cement Plc stock price rallied most from a low of N192.4 to N193, up by 60kobo or 0.31percent.

GlaxoSmithKline Consumer Nigeria Plc stock price also advanced from N11.55 to N12, up 45kobo or 3.90percent.

Fidson Healthcare Plc went up from N4.7 to N4.95, adding 25kobo or 5.32percent. ETI Plc advanced from N13.9 to N14.15, up 25kobo or 1.80percent; while Oando Plc gained 20kobo or 3.17percent, from N6.3 to N6.5.

The All Share Index closed at 32,568.65 points as against preceding day high of 32,614.05 points while Market Capitalisation which stood high at N12.162 trillion the preceding trading day close lower at N12.145trillion.

At the NSE on Thursday, bond market capitalisation stood at N10.249trillion; while Exchange Traded Funds Capitalisation was N6.341billion. In 4,327 deals, equity traders exchanged 220,609,260 units valued at N2.240billion.

Transcorp Plc, FCMB Plc, GTBank Plc, Zenith Bank Plc, and Access Bank Plc were actively traded stocks on the Nigerian Bourse.

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA).

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