It looks like there will be no good deal for stock investors this week as the market continues its value loss with resultant impact on returns.
Stock investors who set out on Tuesday July 3, 2018 to Custom Street Lagos with hope of accumulating values only ended up booking additional loss of about N124billion.
While only 13 stocks gained as against 30 losers, the equities market year-to-date (ytd) returns furthered into the red zone and closed at minus 1.67percent.
Investors that were greatly impacted by the record negative are those that hold the shares of Nestle Nigeria Plc which lost N65 or 4.13percent from N1, 575 to N1, 510. Also, those that invested in Mobil Oil Nigeria Plc booked reasonable loss after its share price declined from N199.9 to N190, down by N9.9 or 4.95percent.
Also, Lafarge Africa Plc share price declined from N40.95 to N39.45, down by N1.5 or 3.66percent; Dangote Cement Plc declined from N224.1 to N222.8, down by N1.3 or 0.58percent; while Cadbury Nigeria Plc lost 70kobo or 5.38percent, from N13 to N12.3.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased by 0.90percent on Tuesdayand closed at 37,605.12 points against the preceding day close of 37,946.92 points. The value of listed equities –the Market Capitalisation closed at N13.622 trillion as against preceding trading day close of N13.746 trillion.
On the gainers table, Beta Glass Nigeria Plc recorded highest rally from N86.3 to N90.45, up by N4.15 or 4.81percent. Unilever Nigeria Plc followed, from N52.5 to N55, up by N2.5 or 4.76percent; while Nigerian Breweries Plc stock price rose from N113.1 to N113.9, up by 80kobo or 0.71percent.
The volume of stocks traded increased by 0.45percent, from 256.2 million to 257.3 million, while the total value of stocks traded increased by 42.3percent, from N1.860 billion to N2.648 billion in 3,932 deals.
At the close of trading on the Nigerian bourse, the Financial Services sector led the activity chart with 109.8million shares exchanged for N1.39billion; followed by Natural Resources sector with 100.001 million shares traded for N20million.