Stock Market: No Respite In Sight As Index Further Regresses

Trading activities on the Nigerian stock exchange increased today by 18.33% as investors bought 258.75 million shares worth N4.79 billion, in 3,965 deals, compared to 218.66 million shares worth N4.58 billion, in 4,675 deals exchanged on Tuesday.

Stanbic IBTC Holdings Plc. Guaranty Trust Bank Plc. and Dangote Cement Plc. were the most actively traded stocks on the exchange today in terms of volume, while United Bank for Africa Plc. UBA Capital Plc. and UACN Property Development Co. Limited.

The Nigerian Stock Exchanges-All Share Index depreciated by 0.88% (-295.06) to close at 33,255.67 from 33.550.73 attained on Tuesday. Market capitalisation also decreased to N11.98 trillion from N11.08 trillion the previous trading day. The BGL 50 Index also followed suit with a 0.95% loss to close at 141.82 from 143.19, while the market capitalisation stood at N10.26 trillion from N10.36 trillion recorded on Tuesday.
A total number of 22 stocks gained on the bourse today while 19 stocks declined leaving 76 stocks unchanged. P Z Cussons Nigeria Plc. emerged the toast of investors as it appreciated by 10.24% to close at N31.97, followed by Skye Bank Plc. with a 4.64% gain to close at N2.48. Others on the gainers chart include; Evans Medical Plc, AS and Logistics Plc. and Royal Exchange Plc. On the flip side Custodian And Allied Insurance Plc. topped the losers chart with a 8.5% decline to close at N3.98, followed by Cutix Plc. which declined by 4.37% to close at N1.41. Others on the losers table include; Rt Bricsoe Plc, Int. Breweries and Deap Capital Plc.

Topping the chart amongst the BGL 50 stocks was P Z Cussons Nigeria Plc. emerged the toast of investors as it appreciated by 10.24% to close at N31.97, followed by Skye Bank Plc. with a 4.64% gain to close at N2.48. Others on the gainers chart include; Nigerian Aviation Handling Company Plc. AIICO Insurance Plc. and Mansard Insurance Plc. On the flip side Custodian And Allied Insurance Plc. topped the losers chart with a 8.51% decline to close at N3.98, followed by International Breweries Plc. which declined by 3.81% to close at N25.01. Others on the losers table include; Dangote Cement Plc. 7-Up Bottling Comp. Plc. and Stanbic IBTC Holdings Plc.

 The Wall Street Journal