Investors lose N713bn in April as decline persists in Nigeria’s stock market
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The decline at the Nigerian Stock Exchange (NSE) is far from over as investors incurred N713bnloss in April.
April started with a market capitalisation of N11.672tn and an All-Share Index of 31,041.42 basis points, while it ended with a market capitalisation of N10.959tn and ASI of 29,159.74bps on the last trading day of the month.
On Tuesday, the ASI shed 1.22 per cent to close at 29,159.74bps as the gains recorded in 26 stocks were offset by major losses recorded in 19 stocks.
Dangote Cement Plc, Nestlé Nigeria Plc and Stanbic IBTC Holdings Plc topped the month-end losers.
A total of 543.924 million stocks valued at N8.2bn were traded in 4,682 deals, representing an 87.4 per cent and 278.8 per cent increase in volume and value traded, respectively, as the year-to-date return worsened to -7.22 per cent.
Cement Company of Northern Nigeria Plc (132.328 million units), FBN Holdings Plc (68.783 million units), Unilever Nigeria Plc (50.470 million units), Guaranty Trust Bank Plc (41.441 million units) and Dangote Flour Plc (37.882 million units) had the highest performing stocks.
The top traded stocks by value were Cement Company of Northern Nigeria (N1.86bn), Unilever (N1.56bn), GTB (N1.38bn), Dangote Flour (N712m) and FBN Holdings (N497m).
Across sectors, the oil and gas index was the highest gainer, up by 1.50 per cent following buying interest in Seplat Petroleum Development Company Plc and Forte Oil Plc.
In the same vein, the insurance index advanced by 0.11 per cent on the back of major gains recorded in Lasaco Assurance Plc.
The banking index recorded a marginal gain of 0.08 per cent due to major gains in Zenith Bank Plc and Access Bank Plc.
On the industrial goods side, index slips by 3.19 per cent as a result of profit-taking activities in Dangote Cement Plc and Cement Company of Northern Nigeria.
The consumer goods index declined by 0.67 per cent as a result of major losses witnessed in Nestlé and Dangote Sugar Refinery Plc.
Investor sentiment, as measured by market breadth (advance/decline ratio), strengthened to 1.4x from 1.0x recorded on Monday.
