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Equities market extends losses as 26 stocks record decline

By Nkiruka Nnorom
The equities market extended its losses for a second day in arow after the Easter break on the back of losses sustained by 26 companies.

NSE moves 403.14m shares worth N9.14bn

Specifically, investors lost N39 billion at the close of trading today as the market capitalisation, which represents investors’ wealth nose-dived to N14.720 trillion from N14.759 trillion, representing 0.26 percent decline.

In the same vein, the All Share Index, ASI, closed lower at 40,749.86 points from 40,855.64 points, also representing 0.26 percent decline.

Analysis of the day’s trading showed that Dangote FlourMill Plc led the decliners, falling by 9.54 percent to close at N13.75 from N15.20. Multiverse Mining and Exploration Plc and Sovereign Trust Plc followed with 9.09 percent decline each to close at N0.20 from N0.22 respectively.

Wapic Insurance Plc went down by 7.02 percent to close at N0.53 from N0.57, while Eterna Plc declined by 4.91 percent to close at N6.01 from N6.32.

On the other hand, 18 gainers emerged, with Lasaco Assurance Plc, leading the pack with 5.88 percent to close at N0.36 from N0.34. Fidelity Bank Plc followed, appreciating by 5.76 percent to close at N2.57 from N2.43; Access Bank Plc rose by 4.89 percent to close at N11.80 from N11.25; May&Baker Plc placed fourth, rising by 4.89 percent to close at N2.79 from N2.66, while African Alliance Insurance Company Plc closed the list of the top five gainers with 4.55 percent increase to close at N0.23 from N0.22 per share.


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