Market sheds N49bn, Diamond Bank, CAP, PZ lose

The equities market depreciated by N49bn as Diamond Bank Plc, CAP Plc and PZ Cussons Nigeria Plc emerged as top losers at the close of trading on the Nigerian Stock Exchange’s floor on Thursday.

The NSE market capitalisation dropped to N9.369tn from N9.418tn recorded on Wednesday, while the All-Share Index also slid to 27,280.95 basis points from 27,421.83 basis points.

A total of 243.608 million shares valued at N2.556bn were traded in 3,647 deals.

The market went as high as 27,425.86 basis points in the course of trading, while the lowest and average index points stood at 27,272.14 and 27,359.15 basis points, respectively.

A total of 24 stocks depreciated with Oando Plc and 7UP Bottling Company Plc following after the top three losers.

The share price of Diamond Bank depreciated by N0.12 (9.09 per cent) to close at N1.20 from N1.32, while that of CAP posted a loss of N1.67 (five per cent) to close at N31.73 from N33.40.

The PZ shares also slid by N0.95 (five per cent) to close at N18.05 from N19, while Oando shares depreciated by N0.28 (4.91 per cent) to close at N5.42 from N5.70.

The 7UP share price closed at N102.60 from N107.86, losing N5.26 (4.88 per cent).

Other losers were Vitafoam Plc, Sterling Bank Plc, Fidelity Bank Plc, Livestock Feeds Plc, Ecobank Transnational Incorporated Plc, Lafarge Africa Plc, Zenith Bank Plc, FCMB Group Plc, Transnational Corporation of Nigeria Plc, United Capital Plc and NEM Insurance Company Nigeria Plc.

Guaranty Trust Bank Plc, United Bank for Africa Plc, FBN Holdings Plc, Nigerian Breweries Plc, Red Star Express Plc, Access bank Plc and Custodian and Allied Plc also recorded losses in their share prices.

On the other hand, the market recorded gains of various degrees on 14 stocks.

International Breweries Plc, Wema Bank Plc, Africa Prudential Registrars Plc, Dangote Flour Plc and Airline Services and Logistics Plc emerged as the top five gainers at the close of trading.

The shares of International Breweries soared by N1.12 (5.93 per cent) to close at N20 from N18.88, while those of Wema Bank closed at N0.73 from N0.70, gaining N0.03 (4.29 per cent).

The share price of APR rose to N2.76 from N2.63, gaining N0.11 (4.15 per cent), while Dangote Flour shares appreciated by N0.17 (4.08 per cent) to close at N4.34 from N4.17.

Other gainers were the NPF Microfinance Bank Plc, Stanbic IBTC Holdings Plc, Fidson Healthcare Plc, Forte Oil Plc, AIICO Insurance Plc, Nascon Allied Industries Plc and Dangote Cement Plc.

Oando, Diamond Bank, Transcorp lead N77bn market loss

Oando Plc, Diamond Bank Plc and Transnational Corporation of Nigeria Plc on Thursday emerged as the top three losers at the close of trading on the floor of the Nigerian Stock Exchange.

The market posted a loss of N77bn, with a total of 34 losers.

The NSE market capitalisation slid to N9.615tn from N9.692tn, while the All-Share Index closed at 27,997.29 basis points from 28,221.18 basis points.

On the aggregate, 227.134 million shares worth N1.801bn were transacted in 3,426 deals.

The highest index point attained in the course of trading was 28,806.45 basis points, while the lowest and average index points were 27,997.29 and 28,449.28 basis points, respectively.

Oando shares depreciated by N0.47 (8.92 per cent) to close at N4.92 from N5.39, while those of Diamond Bank lost N0.15 (8.62 per cent) to close at N1.59 from N1.74.

The share price of Transcorp plunged by N0.12 (8.51 per cent) to close at N1.29 from N1.41.

Honeywell Flour Mill Plc and Cadbury Nigeria Plc also recorded losses as the share price of the former closed at N1.38 from N1.50, losing N0.12 (eight per cent), while the latter recorded a loss of N0.89 (5.53 per cent) to close at N15.20 from N16.09.

Other losers include Stanbic IBTC Holdings Plc, Fidson Healthcare Plc, Learn Africa Plc, Champion Breweries Plc, Dangote Sugar Refinery Plc, Ecobank Transnational Incorporated and Academy Press Plc.

The list also include Livestock Feeds plc, NPF Microfinance Bank Plc, Unity Bank Plc, Aiico Insurance Plc, UAN Property Development Company Plc, Guaranty Trusts Bank Plc, Access Bank Plc, Johnholt Nigeria Plc, Fidelity Bank Plc, Africa Prudential Registrars Plc and FBN Holdings Plc.

United Bank of Africa Plc, UACN Plc, Nestle Nigeria Plc, Zenith Bank Nigeria Plc, Eterna Plc, Flour Mills Nigeria Plc, Guinness Nigeria Plc, FCMB Group Plc, AxaMansard Insurance Plc, Vitafoam Nigeria Plc and Lafarge Africa Plc also recorded losses of various degrees on their share prices.

Only six firm recorded appreciation in their share prices. Skye Bank Plc, Wema Bank Plc, AG Leventis Nigeria Plc, CAP Plc and Tiger Branded Consumer Goods Plc were the top five gainers.

The share price of Skye Bank soared by N0.07 (8.97 per cent) to close at N0.85 from N0.78, while that of Wema Bank closed at N0.78 from N0.73, recording a gain of N0.05 (6.85 per cent).

AG Leventis shares gained N0.04 (4.30 per cent) to close at N0.97 from N0.93, while those of CAP closed at N36 from N35, gaining N1 (2.86 per cent).

Tigerbrands shares also appreciated by N0.08 (2.08 per cent) to close at N3.93 from N3.85, while the shares of Nigerian Breweries Plc fell in value.

Commenting on the market performance, analysts at Vetiva Capital Management Limited, said the Nigerian equity market extended its negative run fuelled by sustained losses among key sectors, with the financial services sector completing a seven-session decline.

On the global scene, Asian markets were mostly up after the Bank of Japan hinted at the introduction of stimulus packages worth $188bn, exceeding expectations of about $94bn. The United States stocks rallied as investors continue to cheer a slew of upbeat earnings releases. However, European markets traded lower following the decision of the European Central Bank to keep interest rate at zero per cent.

The financial services (-256bps) and oil and gas (-92bps) sectors weighed most on the NSE ASI following significant losses in the share of Diamond Bank, Stanbic IBTC, GTB and Oando.

Industrial goods (-32bps) and consumer goods (-24bps) sectors also closed in the negative on the back of declines in WAPCO (Lafarge), Honeywell Flour Mills, Dangote Sugar and Guinness.

Skye Bank topped the volume chart, trading 54 million unit, while WAPCO topped the value chart, trading eight million units worth N479m.

The NSE ASI and NSE 30 lost 79bps and 107bps, putting year-to-date returns at -2.25 per cent and -4.02 per cent, respectively.

“We see the market completing an all week loss at week close amidst sustained bearish sentiment for bellwether stocks,” the analysts said.