Nigerian stock market falls 2.41%, loses N370bn

February 14th, 2018

The Nigerian Stock Exchange (NSE) on Tuesday sustained seven-day falling streak with the market capitalisation shedding N370 billion in one day.

The market capitalisation lost N370 billion or 2.41 per cent to close at N14.967 trillion against N15.337 trillion achieved on Monday.

Similarly, the All-Share Index which opened at 42,737.89 lost 1,029.74 points or 2.41 per cent to close at 41,708.15 following huge losses by some highly capitalised stocks.

An analysis of the price movement showed that Nestle recorded the highest loss depreciating by N40 to close at N1, 320 per share.

Dangote Cement trailed with a loss of N13.30 to close at N258.70, while Nigerian Breweries dipped N5.20 to close at N127.80 per share.

Guinness was down by N5 to close at N105, while International Breweries depreciated by N2.50 to close at N57.50 per share.

On the other hand, Lafarge Africa led the gainers’ table growing by N1 to close at N51 per share.

Zenith International Bank followed with a gain of 60k to close at N30, while Berger Paint gained 45k to close at N9.45 per share.

Access Bank increased by 45k to close at N12, while Dangote Sugar Refinery advanced by 30k to close at N21 per share.

The banking sub-sector was the toast of investors with Diamond Bank emerging the most traded, trading 67.69 million shares worth N181.14 million.

FCMB Group followed with an account of 49.22 million shares valued at N126.18 million, while Fidelity Bank sold 42.78 million shares worth N129.55 million.

United Bank for Africa traded 39.16 million shares valued at N437.59 million, while FBN Holdings exchanged 32.59 million shares worth N358.64 million.

In all, the volume of shares traded closed lower with an exchange of 470.52 million shares valued at N3.68 billion transacted in 6,309 deals.

This was against the 517.44 million shares worth N5.19 billion traded in 5,852 deals on Monday. (NAN)

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