Nigerian Stock Market Investors Lose N58.92bn As NSEASI Dips By -0.45%

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Transactions on the Nigerian Stock Exchange (NSE) closed bearish on Monday, 7th October 2019 as the bourse market continues bleeding.

The NSE All-Share Index  (ASI) dips by -0.45% to close at 26,866.41 basis points. The NSEASI Year-to-Date currently stands at -14.52%. The Market Capitalization shed N58.92 billion to close at N13.08 billion.

The bearish trend was as a result of huge losses suffered by some blue-chip stocks such as Seplat, Nestle Nigeria, Stanbic IBTC Bank, Cadbury Nigeria Plc and Nigerian Breweries. They declined by N3.8, N25.5, 95 Kobo, 6 kobo, and 0.35 Kobo respectively.

The NSE Market Breadth closed bearish for the day as investors sentiment remains negative. The exchange market recorded 16 gainers in contrast to 17 losers.

First City Monument Bank (FCMB) was the most traded stock for the day by volume. The lender traded 55.67 million shares valued at N89.06 million. Transnational Corporation of Nigeria Plc transacted 17.15 million shares units worth N17.21 million.

FBN Holdings Plc completed the top three stocks for the day by volume. The company sold 14.39 million shares units valued at N76.24 million.

Zenith Bank, FCMB and FBN Holdings led the value chart for the day. They added N123.54 million, N89.06 million, and 76.23 million to the equity capitalization.

Courtville Business Solutions Plc was the best-performing stock for the day. The ICT firm appreciated by 10% to close at 22 Kobo. Africa Prudential Plc gained 9.94% to close at 20 Kobo. ABC Transport Plc completed the top three gainers for the day. The transport firm advanced by 8.82% to close at 37 Kobo.

On the flip side, Cornerstone Insurance was the worst-performing stock for the day. The stock declined by -10% to close at 36 Kobo. Seplat Petroleum Development Company Plc shed -6.85% to close at N517. Cadbury Nigeria Plc went down by -5.74% to close at N9.85.

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