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…investors lose additional N182billion
Iheanyi Nwachukwu
Nigeria’s stock market fell by 1.30 percent on Thursday May 31, 2018 as further sell-off by investors placed the market on a negative return path. The stock market year-to-date (YtD) returns currently stand at minus 0.36percent.
The record decline seen on the Nigerian Bourse is igniting fresh concerns over the market direction at end of this second-quarter (Q2).
The value of listed stocks decreased by N182billion to N13.802trillion, from N13.984trillion the preceding trading day.
Only 21 stocks gained as against 26 losers. The Nigerian Stock Exchange (NSE) All Share Index (ASI) also declined from preceding day level of 38,606.41 points to 38,104.54 points.
In 5,166 deals, stock traders exchanged 1,617,391,645 units valued at N71.197billion. Actively traded stocks include Stanbic IBTC Holdings Plc, Zenith Bank Plc, GTBank Plc, United Bank for Africa Plc, and Sterling Bank Plc.
Nestle Nigeria Plc recorded biggest loss after its share price decreased from N1,540 to N1,472.5, down by N67.5 or 4.38percent. Okomu Oil Palm Nigeria Plc followed after its share price decreased from N85 to N80, down by N5 or 5.88percent.
International Breweries Plc also lost, from N49.25 to N44.5, down by N4.75 or 9.64percent. Other top losers are Forte Oil Plc which declined from N40.7 to N37, down by N3.7 or 9.09percent; and Dangote Cement Plc which dipped from N242.5 to N240, down by N2.5 or 1.03percent.
The shares of Seplat Petroleum Development Company Plc rallied most, from N734.7 to N743.2, up by N8.5 or 1.16percent; followed by Unilever Nigeria Plc which increased from N49 to N51.45, up by N2.45 or 5percent; and Cement Company of Northern Nigeria Plc which advanced from N24.2 to N26.65, representing an increase of N2.45 or 10.12percent.
