Home Business Markets NSE opens April trading on downward trend with 0.94% decline

NSE opens April trading on downward trend with 0.94% decline


The equities market of the Nigerian Stock Exchange (NSE)  at the close of first trading day activities for the month of April extended its losing streak, with a loss of 0.94 per cent.
Specifically, the All-Share Index (ASI) dipped199.93 points or 0.94 per cent to close at 21,100.54, compared with 21,300.47 on Tuesday. Also, the market capitalisation declined by N104 billion, to close at N10.996 trillion in contrast with N11.100 trillion on Tuesday.

The downturn was impacted by losses recorded in medium and large capitalised stocks, among which are Dangote Cement, Guinness Nigeria, Flour Mills of Nigeria, Unilever Nigeria and Nigerian Breweries.

Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said the market outlook for the month of April and May remain unstable and mixed.

Omordion stated that investors should invest wisely, using dates, bids, offers, and volume, when taking an investment decision.

Market breadth closed negative with six gainers in contrast with 26 losers.

Unilever led the losers’ chart in percentage terms, losing 10 per cent to close at N9.90 per share.

Dangote Cement followed with a decline of 9.95 per cent to close at N116.80, while Guinness Nigeria shed 9.92 per cent to close at N22.70 per share.

Flour Mills dipped 9.88 to close at N19.15, while Ecobank Transnational Incorporated shed 8.99 per cent to close at N4.05 per share.

On the other hand, MTN led the gainers’ chart in percentage terms, gaining 9.33 per cent, to close at N98.40 per share.

International Breweries followed with 9.18 per cent, to close at N5.35, while Livestock Feeds rose by 8.47 per cent, to close at 64k per share.

Cadbury rose by 4.41 per cent to close at N7.10, while Aviation Handling Company and Wapic Insurance gained four per cent each, to close at N2.60 and 26k per share, respectively.

Also, the volume of shares transacted dipped 63.38 per cent with an exchange of 154.551 million shares valued at N1.77 billion transacted in 3,415 deals.

This was in contrast with 422 million shares worth N1.72 billion achieved in 3,448 deals on Tuesday.


Please enter your comment!
Please enter your name here