Nigeria’s equity market dropped further on Monday January 18, as the Nigerian Stock Exchnage (NSE) All-Share Index depreciated by 4.10% compared with a loss of 2.99% recorded last Friday.
Similarly, the Market Capitalization depreciated by 4.10% to close at N7.76trn, compared with the depreciation of 2.99% recorded last Friday to close at N8.09trn.
The value of the Index closed at 22,550.83 points, down from 23,514.04 points recorded last Friday. Year-to-date (YTD), the Index depreciated by 21.27%. The losses recorded in the share prices of Lafarge Africa, Guinness, Stanbic IBTC, Nestle and Dangote Cement were mainly responsible for the depreciation in the value of the Index.
The total value of stocks traded on the floors of the NSE today was N1.67bn, down by 72.91% from N6.18bn traded last Friday. The total volume of stocks traded was 196.25mn in 3,248 deals.
The three most actively traded stocks were: UBA (38.31mn), GT Bank (25.26mn) and Zenith Bank (23.25mn). The most actively traded sectors were: Financial Services (162.28mn), Consumer Goods (14.35mn) and Conglomerates (11.18mn).
By Pita Ochai