Nigerian stock market was down by 0.16 percent on Tuesday October 15 as thirteen (13) equities recorded new lows as against 7 advancers.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) depreciated to close at 26,513.65 points as against 26. 557.44 points recorded previously.
In 2,484 deals, equity dealers exchanged 174,414,493 units valued at N2.317billion. Access Bank Plc, GTBank Plc, FCMB Plc, Global Spectrum Energy Services Plc and Transcorp Plc were actively traded stocks.
The stock market’s year-to-date (YtD) returns stood at -15.64percent. The value of listed equities stood at N 12.906trillion.
The market’s new low offers value hunters and investors with medium-to-long term view the opportunity to buy stocks with good fundamentals, thereby positioning for year-end rewards like dividend income and possible capital appreciation.
MTN led the loser league after its share price dropped from N130 to N129, losing N1 or 0.77percent, followed by GSK which declined from N7.1 to N6.4, after losing 70kobo or 9.86percent; and Dangote Flourmills Plc which lost 55kobo or 2.39percent, from N23 to N22.45.
On the gainers table, Cement Company of Northern Nigeria Plc advanced most, from N15.2 to N15.85, adding 65kobo or 4.28percent, NAHCO Plc followed after rising from N2.33 to N2.45, adding 12kobo or 5.15percent, and United Capital Plc which moved up from N2.03 to N2.1, adding 7kobo or 3.45percent. Analysts expect mixed trading partner on Wednesday.
Iheanyi Nwachukwu
