Nigeria’s equities market slumps further by 0.74%

The Nigerian Stock Exchange All-Share Index contracted further on Friday by 0.74 per cent to 39,799.89 points to close February’s trading.

Amid the sustained negative sentiment, investors lost N154.66bn, as the market capitalisation dipped by 0.74 per cent to close at N20.82tn.

Hence, the Year-to-Date loss of the ASI rose to -1.16 per cent, with 17 gainers and 24 losers at the close of the week’s trading.

Specifically, investors’ continued sell-offs moderated the share prices of medium and large capitalised stocks.

Share prices of MTN Nigeria, Lafarge Africa, Zenith Bank and Dangote Sugar declined by 3.28 per cent, 2.99 per cent, 1.55 per cent and 0.55 per cent respectively.

Sectoral performance was weak, as four of the five indices tracked closed in the red zone. The banking, insurance, consumer goods and industrial indices moderated by 0.48 per cent, 2.32 per cent, 0.40 per cent and 0.19 per cent; but the oil and gas index which rose by 0.25 per cent.

There was mixed trading activity, as the total deals and value of stocks fell.

However, total volume of stocks rose by 55.58 per cent to 507.25 million units, valued at N2.44bn in 4,465 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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