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Bearish sentiment persists as 31 equities shed weight

The bearish sentiment on the Nigerian Stock Exchange, NSE, persisted Tuesday with the prices of 31 equities tumbling.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

The equities market has been on a downward move in the last two weeks despite the release of impressive full year to December 31, 2017 financial results and declaration of dividend payment by the quoted companies.

Just like the previous day, Cadbury Nigeria Plc led the losers, dropping by 9.39 percent to close at N14.00 from N15.45.

This was trailed by Japaul Oil and Maritime Services Plc, which slipped by 9.38 percent to close at N0.58 from N0.64. Multitrex Integrated Foods Plc placed third, declining by 9.09 percent to close at N0.40 from N0.44; Seplat Petroleum Development Company Plc and Lafarge Africa Plc ranked fourth, deprecating by five percent each to close at N722.00 and N50.35 per share respectively.

Further breakdown of the day’s trading showed that Unity Bank Plc recorded 6.50 percent price increase to close at N1.31 from N1.23, followed by Unilever Nigeria Plc and Total Nigeria Plc with five percent increase apiece to close at N55.65 and N243.70 per share respectively.

Eterna Plc was up 4.91 percent to close at N5.98 from N5.70, while UPL Plc’s shares rose by 4.81 percent to close at N2.18 from N2.08 per share.


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