Nigeria’s stock market opened this week on a negative note as investors continued weighing the nation’s political chess game and a mixed bag of first-half corporate scorecards.
Advancing stocks failed to outnumber decliners on Customs Street (21 gainers as against 25 losers) prompting record marginal decline of 0.06percent by the NSE All Share Index (ASI).
The stock market’s year-to-date (YtD) returns stood at 4.61percent, the All Share Index closed at 36,479.42 points from preceding trading day high of 36,499.67 points; while the value of listed stocks which stood at N13.322trillion at the beginning of trading, declined by N7billion to N13.315trillion.
Price gains by many large cap stocks could not help lift equities northwards. Lafarge Africa Plc share price gained most at Lagos Bourse from an open price of N28 to N30.5, representing N2.5 or 8.93percent gain.
ETI advanced from N21.1 to N22, up 9kobo or 4.27percent; UBA Plc stock rose from N9.45 to N9.7, up by 25kobo or 2.65percent.
Oando Plc recorded rally, from N5.6 to N5.75, up by 15kobo or 2.68percent; while Forte Oil Plc stock price increased from N23.4 to N23.55, up by 15kobo or 0.64percent.
Beta Glass Plc recorded the highest decline, from N85.8 to N78, down by N7.8 or 9.09percent.
Okomu Oil Palm Plc declined from N76 to N73.1, down by N2.9 or 3.82percent; Nigerian Breweries Plc dipped from N103 to N100.9, down by N2.1 or 2.04percent.
Also, Flour Mills Nigeria Plc declined from N26 to N24.6, down by N1.4 or 5.38percent; while Dangote Cement Plc lost N1, from N229 to N228, representing a decline of 0.44 percent.
In 3,203 deals, stock traders exchanged 182,291,105 units valued at N2.033billion. UBA Plc, United Capital Plc, Regency Alliance Plc, Access Bank Plc and Union Dicon Plc were actively traded stocks on Monday at the Bourse.
