Investors suffer N394bn loss, market down by 4%

The best way to describe how the market went on the Nigerian Stock Exchange (NSE) this week is to just say it was ‘very bloody’ as throughout the week, the market continued looking south wards as investors recorded a loss of N394 billion and All-Share Index dropped by 3.98 per cent .

The market Capitalisation which began the week at N9.893 trillion closed at N9.499 trillion on Friday even as the All-Share Index which opened the week at 28,805.45 basis points closed at 27,659.44 basis points.

For Friday trading alone, investors in equities on the Exchange suffered value erosion of N116 billion and Market Capitalisation which closed at N9.615 trillion on Thursday, closed on Friday at N9.499 trillion.

The market recorded a transactions of 255.734 million shares valued at N2.115 billion traded in 3,659 deals.

The most appreciated stock on Friday was NESTLE which rose from its opening value of N835 per share to close at N850.01 as it added N15.01; NB, from its opening value of N137, it ended the day trading at N138.01 as it was marked up by N1.01; INTBREW rose from N18.65 to close at N19.58 as it added N0.93 to its opening value. GUINNESS added N0.53 to its opening value of N95.95 to close at N96.48            while UACN added N0.41 to its opening value of N20.09 to close at N20.5

On the other hand, DANGCEM led the losers chart and from its opening value of N187.5, it closed at N179.5 as it was marked down by investors by N8.00 per share. ETI lost N0.53 and from its opening value of N12.33, it ended the day trading at N11.8; STANBIC recorded a loss of N0.49 and from its opening value of N13.49, it closed at N13. CUSTODYINS                 closed at N3.61 from its opening value of N3.99 as it was marked down by N0.38 while CADBURY              completes the top-five losers with N0.2 price loss and from N15.2, it closed at N15.00 per share.

The most traded stock of the day was ZENITHBANK with 46.589 million shares traded in N712.899 million; SKYEBANK, 41.003 million shares at N35.714million; UCAP, 26.320million shares valued at N61.485 million; GUARANTY traded 19.749 million shares in N415.022 million and UBA traded 12.940 million shares at N56.145 million.