Stock Prices Remain Attractive As NSE-ASI Declines By 4.17%

The new year has continued to present more opportunities as stock prices decline to attractive levels.

The Nigeria Stock Exchange (NSE) All-Share Index (ASI), yesterday, depreciated by 1,354.77 points or 4.17 per cent to close at 31,167.54 as against the 32,522.31 achieved on Tuesday.

Similarly, the market capitalisation dipped by N449 billion to close at N10.318 trillion from the N10.767 trillion posted on Tuesday.

In a total of 96 traded stocks, eight stocks gained value while 41 stocks shed value to give a negative market breadth. Forte Oil recorded the highest price gain of N6.78 to close at N231.88 per share. It was trailed by Presco with a gain of N2.54 to close at N27.47 while PZ Cusson went up by N1.32 to close at N26.50 per share. Also, International Breweries gained 50 kobo to close at N1.32 while Ashaka Cement rose by 11 kobo to close at N21.60 per share.

Conversely, Seplat led the losers’ chart by N16.69 to close at N317.24 per share. Guinness lost N15.30 to close at N141.74 while Dangote Cement dropped N9.02 to close at N171.48 per share. Nigerian Breweries shed N7.35 to close at N139.82 per share while Guaranty Trust Bank lost N2.36 to close at N21.96.

The total volume of shares transacted decreased by 4.93 as investors traded 393.37 million shares valued at N5.46 billion in 3,930 deals. ETI emerged the most traded equity with 103.03 million shares valued at N1.81 billion. Guaranty Trust Bank came second with 37.51 million shares worth N824.64 million while Zenith Bank accounted for 36.61 million shares valued N570.55 billion. FBN Holdings exchanged 28.18 million shares valued at N195.76 million while Diamond Bank traded 21.96 million shares worth N103.02 million.

Source : Leadership

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