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Market stumbles further on large-cap stocks losses

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Trading on the floor of the Nigerian Stock Exchange (NSE) further closed in the red zone yesterday.

Driven by losses recorded by equities like that of Flour Mills Nigeria plc, Oando plc, Guaranty Trust Bank plc, Lafarge Cement WAPCO plc, and FBN Holdings plc, the stock market dipped by 0.02%, pushing the year-to-date (YtD) return down to 0.10%.

Flour Mills Nigeria plc led the losers table after its share price declined from N71.64 to N68.06, down by N3.58; followed by another big loser –Oando plc which dipped from N26.69 to N26.22, down by N0.47.

Guaranty Trust Bank also declined from N29.1 to N28.78, down by N0.32; Lafarge Cement WAPCO plc dropped from N118 to N117.68, losing N0.32; while the share price of FBN Holdings plc declined from N14.85 to N14.6, losing N0.25.

The stock market recorded twenty-two (22) stocks on the gainers list against twenty-seven (27) losers.

The Nigerian Stock Exchange All Share Index (NSE ASI) closed at 41,370.24 points against the preceding trading day’s level at 41,380.05 points; while market capitalisation closed at N13.661 trillion against preceding trading day’s N13.664 trillion.

Also, volume of equities traded dropped from 481.655 million to 177.832 million, indicating a decline by 63.08%; while the total value of stock traded decreased by 19.64% from N2.63 billion to N2.11 billion in 4,484 deals.

On the gainers table, Nigerian Breweries plc led other equities after its share price rose from N171.3 to N172.5, adding N1.2; followed by Ecobank Transnational Incorporated plc which rose from N17.22 to N17.7, adding N0.48.

Zenith Bank plc appreciated from N23.9 to N24.11, adding N0.21; Redstar Express rose from N4.4 to N4.58, adding N0.18; while Cement Company of Northern Nigeria plc rallied from N14.33 to N14.5, adding N0.17.

Article Credit: Businessdayonline

Updated 4 Years ago

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Tags:     NSE     Flour Mills Nigeria plc     Oando plc     Guaranty Trust Bank plc     Lafarge Cement WAPCO plc     FBN Holdings plc