Stock market sheds N37bn as Lafarge, UACN, BUA Cement, others lose

Nigeria equities market lost about N37billion at the end of trading session on Thursday January 30, 2020.

Investors on Custom Street are reducing their stakes in equities despite full-year 2019 results seen trickling in at the local Bourse.

The market capitalisation of listed equities on the Nigerian Stock Exchange (NSE) decreased to N14.953trillion from N14.990trillion, losing N37billion.

FBNQuest research analysts had expected the market to maintain preceding day’s negative trading pattern in today session.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased further by 0.27percent, moving from 29,103.21 points to 29,030.93 points.

The year-to-date (ytd) positive return decreased to +8.15percent, while week-to-date (WtD), the market has recorded negative return of about -2.02percent.

Lafarge Africa Plc recorded the highest decline from N16.95 to N15.75, losing N1.2 or 7.08percent.

UACN also dipped from N10 to N9, shedding N1 or 10percent, while BUA Cement dropped from N37.6 to N36.75, losing 85kobo or 2.26percent.

The share price of PZ Cussons also decreased from N5.85 to N5.65, losing 20kobo or 3.42percent, while Access Bank Plc dropped from a preceding day high of N9.8 to N9.65, losing 15kobo or 1.53percent.

GTBank advanced most, after its share price moved from N30.1 to N31, adding 90kobo or 2.99percent. Julius Berger followed after rising from N22.25 to N22.5     , gaining 25kobo or 1.12percent.

NEM Insurance share price went up from N2.2 to N2.4, gaining 20kobo or 9.09percent. Cornerstone Insurance increased from 54kobo to 59kobo, adding 5kobo or 9.26percent. Unity Bank increased from 60kobo to 64kobo, gaining 4kobo or 6.67percent. In 4,411 deals, equity dealers exchanged 274,465,838 units valued at N9.095billion. GTBank, MTNN, UBA, Zenith Bank and Unilever were actively traded stocks.