The year-to-date (ytd) returns of Nigerian equities market moved further negative by 7.58% yesterday as increased sells pushed stocks value down by N119billion.
The value of listed equities at the Nigerian Stock Exchange (NSE) declined from a preceding day high of N11.053trillion to N10.934trillion yesterday; while the NSE All Share Index (ASI) dipped from 32,380.26 points to 32,031.73 points.
In 3,328 deals, equity dealers exchanged 193,966,161 units valued at N2.919billion. Dangote Cement plc led the losers table after its share price declined by N4, from N172 to N168; followed by Forte Oil plc which lost N3.02, from N198 to N194.98.
The shares of Seven Up Bottling Company plc lost N2.4, from N194 to N191.6; Beta Glass plc declined from N36 to N34.2, down by N1.8, while Seplat Petroleum Development Company plc declined from N336.05 to N335, losing N1.05.
Ashaka Cement plc led the gainers table of 13 against 31 losers after its share price rose from N21.1 to N22.15, adding N1.05.
UAC Property Development Company rose from N10.2 to N10.4, adding N0.2; Custodian and Allied Insurance plc added N0.19, from N3.9 to N4.09; Ikeja Hotel plc rose by N0.18, from N3.65 to N3.83; Vitafoam plc rallied from N5.75 to N5.88, adding N0.13.
Zenith Bank plc, Access Bank plc, FCMB plc, UBA plc, and Beco Petroleum plc were the actively traded stocks at the Nigerian bourse yesterday.
Oil prices fell below $57 a barrel on Wednesday as data showed an unexpected build in U.S. crude oil and product stocks.
Brent crude futures quickly reversed gains made earlier in the day on expectations of a decline in U.S. inventories and the failure so far of Iranian nuclear talks to produce a deal.
Brent crude was down 25 cents to $56.60 a barrel by 11:33 a.m. EDT (1533 GMT), having traded as high as $57.75 on Tuesday. U.S. crude was down 88 cents at $51.45.
