Investors Lose N656.04bn As 33 Stocks Drag NSE’s Index Down By -4.91%

The Nigerian Stock Exchange (NSE) closed in the negative territory on Tuesday, 10th March 2020 as the market sells pressure persists. The nation’s local bourse market Year-to-Date slips to -9.14% as key market growth indices plunge further negatively.

The NSE Market Breadth closed beardish as thirty-three blue-chips stocks closed in the red zones while only three gainers were recorded for the day. Neimeth International Pharmaceutical Plc led the gainers’ chart while MTN Nigeria was among the top losers for the day.

Major market capitalized companies such as MTN Nigeria, Access Bank, Nigerian Breweries, Dangote Sugar, and Guaranty Trust Bank amongst others all closed in the red regions as the impacts of the Coronavirus (COVID-19) wreaked the stock market further.

The NSE All-Share Index (ASI) close at 24,388.66 basis points for the day while the Market Capiatzlization shed N656.04bn to close at N12.71 trillion. A total number of 4,010 deals exchanged hands on the floor of the exchange market worth N4.21bn.

Guaranty Trust Bank PLC led the top traded stocks for the day. The group traded 54.52 million of its shares units worth N1.09bn. United Bank of Africa sold 166.42 million units of its shares valued at N942.73 million.

FBN Holdings Plc transacted deals worth N724.83 million for the day to complete the top three traded stocks for the day.

On the flip side, MTN Nigeria led the top losers’ chart for the day. The communications giant shed 10% of the value of its shares to close at N103.50. Stanbic Bank Plc also declined by 10% to close at N28.35 for the day.

Dangote Sugar Plc went down by 10% to close at N9.90.

Neimeth International Pharmaceuticals Plc led the gainers’ table for the day. The group advanced by 10% to close at 10%. Honeywell Flour Mills Plc appreciated by 3.45% to close at 90 Kobo.

NEM Insurance Plc completed the top three gainers for the day which also happens to be the only price advancers for the day. The company went up by 1.16% to close at N1.75.


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Author: FMN

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