The Nigerian stock market year-to-date (ytd) return moderated to 3.85 percent after yesterday’s trading as the market halted the three-day rally.
The stock market witnessed cautious trading which resulted to decline in the benchmark performance indicators.
The market capitalisation of listed equities dropped from N14.208trn to N14.171trn at the close of deals on the Nigeria bourse yesterday while the Nigerian Stock Exchange All Share Index (ASI) dropped from 43,030.27 points to close yesterday at 42,918.52 points.
Twenty seven companies gained while twenty-five depreciated in price. PZ Cussons Nigeria plc led the gainers table after its share price rose from N36 to N37.99, up by N 1.99 or 5.53 percent, followed by Northern Nigeria Flour Mills plc which rose from N18.77 to N19.79, after adding N 1.02 or 5.43 percent increase. Also, Mobil Oil Nigeria plc rose from N147.15 to N154.50 adding N 7.35 or 4.99 percent.
On the losers table, TRIPPLEG led after its share price dropped from N1.97 to N 1.88, down byN0.09 or 4.57 percent, while Ikeja Hotel plc dropped from N 0.78 to N0.75, down by N0.03 or 3.85 percent to occupy the second position in the top losers league. Also, National Salt Company of Nigeria plc dropped from a high of N11 to N10.59, down by N0.41 or 3.73 percent.
In a related market development, Livestock Feeds plc declared N85.4m Profit After Tax (PAT) in the second quarter (Q2) of 2014 result. The company’s revenue increased by 24.2 percent percent from N2.70bn to N3.35bn. Though, its basic earnings per share declined by 20.9 percent from 5.4 to 4.27.
