Nigerian stocks tapered further on Monday as the benchmark index shed 0.22 per cent, with the most capitalised bank in Africa’s biggest economy GTB accounting the most for the slide ahead of its earnings release due on Tuesday.

Dangote Sugar and Zenith also drove the loss.

The consumer goods index eased 1.52 per cent to 531.64 points as the shares of beer-makers Nigerian Breweries, AB InBev-backed International Breweries and Guinness took a bashing from investors’ worsening sentiment, complicating recovery process for a sector that, until Monday, had been down by 5.84 per cent so far this year.

Market breadth emerged negative as 18 losers were recorded compared to 17 gainers.

Dipping by 84.16 points, the all-share index closed at 38,561.84 points, while market capitalisation dropped to N20.176 trillion.

Year to date, the index is down by 4.24 per cent.

TOP FIVE GAINERS

Wapic led gainers, growing by 10 per cent to close at N0.55. NNFM gained 9.73 per cent to close at N6.20. Smart Products Nigeria rose by 8.33 per cent to N0.26. NEM leapt to N2.19, notching up 7.88 per cent in the process. Berger completed the top 5, climbing up by 7.44 per cent to N6.50.

TOP FIVE LOSERS

Regal Insurance topped the losers’ table, declining by 9.09 per cent to close at N0.30. Livestock shrank by 9.50 per cent to end the day at N1.83. Nigerian Breweries tumbled to N47, losing 5.34 per cent. Lasaco dipped to N1.24, recording 4.62 per cent loss. Jaiz Bank closed at N0.62, going down by 4.62 per cent.

TOP FIVE TRADES

In all, 184.528 million shares worth N2.518 billion were traded in 3,527 deals as liquidity dropped by 37 per cent.

FBN Holdings was the most preferred stock with 31.144 million units of its stocks worth N225.975 million traded in 185 deals. 22 million units of Notore shares priced at N1.375 billion exchanged hands in 4 transactions.

Fidelity Bank had 15.282 million shares valued at N35.308 million traded in 140 deals.

Sovereign Trust Insurance traded 10.787 million shares estimated at N2.418 million in 16 transactions. Transcorp traded 8.681 million shares valued at N7.108 million in 85 deals.


Source

Click for More News



Tell us your view below: