Stock Market Investors Lose N425.19bn As Coronavirus Impacts Hit NSE Harder

The Nigerian equities market continues its bearish trend on Wednesday 11th March 2020 following the global outbreak of the Coronavirus (COVID-19). The outbreak of this deadly virus has impacted the global financial market negatively and the Nigerian local bourse market is not left out.

The OPEC Daily Basket price and the Brent Oil price have suffered a nearly all-time low in recent weeks.

The NSE Market Capitalization shed N425.19bn on Wednesday to close at N12.28bn after losing N656.04bn the previous day. The NSE All-Share Index declined by -3.35% to close at 23,572.75 basis points. The NSEASI Year-to-Date (YTD) currently stands at -12.81%.

The Nation’s local bourse market breadth closed bearish for the day as 20 blue-chips stocks traded negatively while 18 stocks closed in the green.

Dangote Cement Plc led the losers’ chart for the day while Chams Plc tops the price advancers for the day.

Guaranty Trust Bank Plc was the most traded stock for the day. The group ranked in N7.24bn from 385.18 million shares units sold for the day.

Zenith Bank Plc was the most active stock for the day in terms of the volume traded for the day. The company transacted 412.41 million shares valued at N5.06bn.

FBN Holdings Plc completed the top three traded stocks for the day. The group made N1.34bn from 303.03 million of its shares units sold.

 Dangote Cement Plc was the worst-performing stock for the day. The Pan-African company shed 10% of its shares value to close at N153.00. Nestle Nigeria Plc also went down by 10% to close at N915.30.

Sterling Bank Plc depreciated by 9.93% to close at N1.27.

Chams Plc was the best-perfoming stock for the day. The company advanced by 10% to close at 22 Kobo. Courtville Business Solutions Plc also appreciated by 10% for the day to close at 22 Kobo.

First City Monument Bank Plc completed the top three gainers for the day. The lenders went up by 9.93% to close at N1.66.

 

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Author: FMN

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