NSE records bleak performance, as investors shed N2bn Press "Enter" to skip to content

NSE records bleak performance, as investors shed N2bn

Motolani Oseni

Investments in the equities market of the Nigerian Stock Exchange (NSE) recorded another bleak performance, closing negative in favour of the bears to lose N2 billion in one week.

The NSE ASI lost 3.37 basis points, representing a decline of 0.01 per cent to close at 31,139.35 basis points from 31,142.72 basis points reported in the previous week.

Market statistics obtained by our correspondent showed that the market capitalisation, which opened trading on March 18 at N11.614 trillion, lost N2 billion or 0.01 per cent to close trading on March 22 at N11.612 trillion.

In the week under review, the total turnover of 1.198 billion shares worth N12.273 billion in 18,293 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.113 billion shares valued at N13.465 billion that exchanged hands last week in 15,036 deals.

However, all other indices finished lower with the exception of the NSE CG, NSE Premium, NSE ASeM, NSE Banking, NSE-AFR Bank Value, NSE AFR Div Yield, NSE Industrial Goods and NSE Pension indices which appreciated by 0.66 per cent, 0.27 per cent, 0.55 per cent, 3.82 per cent, 4.76 per cent, 2.97 per cent, 2.42 per cent and 0.71 per cent respectively.

Analysts at APT Securities and Fund Limited said, “We are optimistic of a mid to long term positive outing backed by good fundamentals.”

Mcnichols Plc topped the gainers’ chart with 22.81 per cent or 13 kobo to close at 70 kobo per share. Access Bank Plc followed with 18.10 per cent or N1.05 to close at N6.85 as Dangote Flour Mills Plc garnered 13.73 per cent or N1.40 to close at N11.60 per share.

Fidelity Bank Plc grew by 10.75 per cent or 23 kobo to close at N2.37, while Prestige Assurance Plc appreciated by 10 per cent or 5 kobo to close at N0.55 per share.

On the contrary, Cutix Plc led the losers’ chart, reducing by 17.78 per cent or N0.40 to close at N1.85 per share. Cadbury Nigeria Plc followed with a loss of 17.50 per cent or N2.10 to close at N9.90, while Ikeja Hotel Plc was down by 17.39 per cent or N0.36 to close at N1.71 per share.

Royal Exchange Plc shed 17.14 per cent or N0.06 to close at N0.29. UACN Property Development Company Plc declined by 12.82 per cent or N0.25to close at N1.70 per share.