Stock market closes negative as investors lose N152bn

Transactions on the floor of the Nigerian Stock Exchange on Tuesday closed on a negative note, with investors losing N152bn. The All Share Index declined by 0.24 per cent, settling at 103,398.82 points from the previous close of 103,649.24.

This brought the year-to-date and month-to-date gains to 0.46 per cent, while the week-to-date recorded a loss of 0.18 per cent. Market capitalisation dropped to N63.051tn.

An aggregate of 1.11bn shares, valued at N14.64bn, exchanged hands in 16,617 deals.

The market breadth closed negative, with 19 gainers and 51 losers. Abbey Mortgage Bank Plc and PZ Cussons Nigeria Plc emerged as the top gainers, while FTN Cocoa Processors Plc and RT Briscoe Nigeria Plc led the losers’ chart.

PZ Cussons Nigeria Plc recorded a 10 per cent increase, rising from N25.00 to close at N27.50, gaining N2.50. Abbey Mortgage Bank Plc also gained 10 per cent, moving from N3.30 to N3.63, adding N0.33 to its value.

Learn Africa Plc saw its share price increase by 9.90 per cent, climbing from N4.95 to N5.44, a gain of N0.49. Similarly, NCR Nigeria Plc advanced by 9.77 per cent, with its stock price rising from N6.65 to N7.30, an increase of N0.65. The NGX Group Plc completed the top gainers’ list with its stock price growing by 9.72 per cent, moving from N27.25 to close at N29.90, an increase of N2.65.

On the losing side, FTN Cocoa Processors Plc led the chart with a 10 per cent decline, dropping from N2.00 to N1.80, a loss of N0.20. RT Briscoe Nigeria Plc followed closely, also declining by 10 per cent, falling from N3.00 to close at N2.70, losing N0.30.

Veritas Kapital Assurance Plc recorded a 10 per cent drop, decreasing from N1.70 to N1.53, a loss of N0.17. SUNU Assurances Nigeria Plc shed 9.98 per cent, dropping from N11.12 to N10.01, losing N1.11. Cornerstone Insurance Plc rounded off the list, with its share price falling by 9.98 per cent, dropping from N4.61 to N4.15, a loss of N0.46.

FBN Holdings Plc emerged as the leader in both volume and value traded on the Nigerian Exchange. The stock recorded 395 deals, trading 161,459,871 units valued at N4.72bn.

In terms of volume, AIICO Insurance Plc followed with 806 trades, exchanging 120,702,526 units valued at N225.44m. Tantalizers Plc recorded a volume of 104,762,418 shares traded in 293 deals, amounting to N267.39m. Universal Insurance Plc saw 392 deals with a traded volume of 93,810,755 units worth N78.06m. Regal Insurance Plc rounded off the top five by volume, trading 47,324,699 units in 242 deals valued at N44.55m.

On the value chart, Access Holdings Plc was next to FBNH, with 759 trades exchanging 47,054,747 shares worth N1.20bn. Guaranty Trust Holding Company Plc followed closely, trading 20,573,583 shares in 362 deals with a total value of N1.17bn. Oando Plc recorded a value of N984.25m from 14,919,052 shares traded in 460 deals. Presco Plc completed the top five by value, with 1,404,980 shares exchanged in 432 deals, worth N687.79m.

Other indices also recorded varied performances. The Top 30 Index declined by 0.13 per cent, with a one-week loss of 0.04 per cent and a year-to-date gain of 0.19 per cent. The Industrial Index remained flat, with a one-week gain of 0.38 per cent and a year-to-date gain of 0.21 per cent.

The Oil & Gas Index fell by 0.1 per cent, posting a one-week loss of 0.27 per cent and a year-to-date decline of 0.69 per cent. The Pension Index dipped by 0.2 per cent, despite a one-week gain of 0.45 per cent and a year-to-date gain of 0.77 per cent.

Meanwhile, the Main Board Index dropped by 0.2 per cent, recording a one-week gain of 0.59 per cent and a year-to-date gain of 0.49 per cent. The Premium Index also declined, falling by 0.33 per cent, with a one-week loss of 0.46 per cent and a year-to-date gain of 0.40 per cent.

On Monday, the Nigerian Stock Exchange recorded a rise of N37bn in its market value on the first trading day of the week.