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Consumer goods, oil and gas stocks depress equities index

Losses recorded today in consumer goods and oil and gas stocks, including International Breweries Plc, Dangote Sugar Refinery Plc, Dangote Flour Mills Plc, Eterna and Oando Plc among others pulled the Nigerian stock Exchange, NSE, all Share Index, ASI, down by 0.48 percent.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Consequently, investors lost N72 billion at the end of the day’s trading as the market capitalisation dropped to N14.890 trillion from N14.962 trillion, representing 0.48 percent decline.

Similarly, the ASI declined to 41,107.81 points from 41,306.02 points.

International Breweries Plc led the top losers for the day, dropping by 8.30 percent to close at N47.50 from N51.80. Dangote Sugar Refinery Plc followed with five percent decline to close at N19.00 from N20.0.

Dangote FlourMill Plc ranked third, declining by 4.98 percent to close at N11.45 from N12.05; Eterna Plc placed fourth, depreciating by 4.94 percent to close at N5.96 from N6.27, while Oando Plc was down 4.92 percent to close at N8.70 from N9.15 per share.

Conversely, Unity Bank Plc led 24 other gainers, rising by 9.52 percent to close at N1.15 from N1.05, followed by Cement Company of Northern Nigeria, CCNN, which recorded 7.58 percent appreciation to close at N22.00 from N20.45 per share.

Jaiz Bank plc appreciated by 7.14 percent to close at N0.75 from N0.70; Cutix Plc appreciated by 4.98 percent to close at N2.95 from N2.81 per share.


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