Polls Shift: Nigerian Equities Market Dips Further

The Nigerian equities market maintained a downward trend as market indicators further shedded 1.39 per cent yesterday.

The market capitalisation which opened at N9.718 trillion decreased by N135 billion to close at N9.583 trillion.

Similarly, the All-Share Index (ASI) dipped by 1.39 per cent or 404.42 points to close at 28,721.27 from the 29,125.69 achieved on Tuesday.

Forte Oil recorded the highest price loss of N9.48 to close at N200 per share. Dangote Cement trailed with a loss of N4.99 to close at N152 while Wapco dipped by N2 to close at N83 per share. Flourmill lost N1.60 to close at N30.61 while UACN depreciated by N1.60 to close at N30.61 per share.

On the other hand, Julius Berger led the gainers’ chart by N1.75 to close at N44.40 per share. Beta Glass gained N1.40 to close at N30 while Okomu Oil grew by 80 kobo to close at N57.50 per share. Stanbic IBTC appreciated by 70 kobo to close at N24.70 while PZ Cussons went up by 19 kobo to close at N26.99 per share.

The volume of shares traded yesterday increased by 5.82 per cent as investors exchanged a total of 339.451 million shares worth N6.11 billion in 3,512 deals as against the 320.795 million shares valued at N4.14 billion traded in 4,116 deals on Tuesday.

Access Bank emerged as the most traded stock, accounting for 65.39 million shares worth N390.91 million. FBN Holdings exchanged 53.59 million shares valued at N390.91 million while FCMB sold 43.59 million shares worth N88.55 million. Zenith Bank traded 42.82 million valued at N684.74 million and Transcorp sold 30.23 million worth N76.84 million.

Source : Leadership

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