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Equities relapse with N38b loss - Printable Version +- Forums (http://contripeople.com) +-- Forum: General Discussion (http://contripeople.com/forumdisplay.php?fid=5) +--- Forum: Market Place (http://contripeople.com/forumdisplay.php?fid=77) +--- Thread: Equities relapse with N38b loss (/showthread.php?tid=27069)

Equities relapse with N38b loss - Edoman - 12-21-2019 Equities relapse with N38b loss December 20, 2019   in Equities  0 [/url] [url=https://thenationonlineng.net/wp-content/uploads/2019/12/Nigerian-Equity.jpg] Nigerian equities suffered a contraction on Thursday as loss by by large-cap telecommunications and consumer goods stocks depressed the market value of quoted companies. Benchmark indices at the Nigerian Stock Exchange (NSE) indicated average decline of 0.30 per cent, equivalent to net capital depreciation of N38 billion. The All Share Index (ASI)- the common value-based index that tracks share prices at the Exchange declined from its opening index of 26,665.73 points to close at 26,584.45 points. Aggregate market value of all quoted equities also dropped from its opening value of N12.870 trillion to close at N12.832 trillion. With these, average year-to-date return worsened to -15.42 per cent while month-to-date return stood at -1.55 per cent. With 14 gainers against 11 losers, most sectoral indices closed on the upside. The NSE Banking Index rose by 0.55 per cent. The NSE Insurance Index appreciated by 0.48 per cent while the NSE Oil & Gas Index rose by 0.19 per cent. However, the NSE Consumer Goods Index slipped by 0.05 per cent while the NSE Industrial Goods Index closed flat. Total turnover increased by 30.74 per cent to 304.21 million shares valued at N3.15 billion in 2,690 deals. Access Bank was the most active stock with a turnover of 147.72 million shares worth N1.43 billion. MTN Communications Nigeria led the losers with a loss of N2.80 to close at N112.50. UPDC Real Estate Investment Trust followed with a drop of 35 kobo to close at N3.30. UAC of Nigeria lost 15 kobo to close at N8.60 while International Breweries and Access Bank dipped by 10 kobo each to close at N9.40 and N9.80 respectively. On the upside, GlaxoSmithKline Consumer Nigeria and Guaranty Trust Bank led the gainers with a gain of 50 kobo to close at N5.75 and N30 respectively. Stanbic IBTC Holdings rose by 20 kobo to close at N37.20 while Fidelity Bank added 12 kobo to close at N2.20 per share. “We expect a bearish outing in the equities market by the close of the week as investors maintain a risk-off approach,” Afrinvest Securities stated.