NESTLE, 14 Others Drag Equity Market Lower, as NGX-ASI Halt Winning Streak


Today, the Nigeria equity market halted the five trading session winning streak as the NGX-ASI declined by 0.06 percent. The decline follows the profit-taking on FBNH shares by investors and sell-off on NESTLE, including 13 others.

Consequently, the All-Share Index dipped by 25.35 bps, representing a decline of 0.06 per cent to close at 41,789.59. While the Market Capitalization lost ₦12.88 Bn, representing a decrease of 0.06 per cent to close at ₦21.81 trillion.

→ Also, the market activities traded bearishly, as the Total Volume and Value dipped by 19.43 percent and 42.49 percent. A total of 284.60 million units valued at ₦3.20 billion were transacted in 5,036 Deals.

FBNH topped the traded stocks in terms of volume, accounting for 26.54 percent of the total volume of trades, maintaining the position as the most trading stock, followed by AIICO (6.48%), ETI (6.09%), TRANSCORP (5.35%), and FIDELITYBK (4.93%) to complete the top five on the volume chart.

Also, FBNH appeared as the most traded stock in value terms, with 28.04 percent of the total value of trades on the exchange.

→ AIICO led in the gainers’ chart as their share prices appreciation of 9.57 percent, trailed TOTAL (5.97%), ETI (2.55%), CUTIX (2.48%), NGXGROUP (2.04%), NB (2.00%), UCAP (1.11%), ZENITHBANK (0.81%), WAPCO (0.80%), ACCESS (0.53%), GTCO (0.18%) and 12 others.

On the contrary, 15 stocks declined in price led by GLAXOSMITH with price depreciation of 10.00 percent to close at ₦6.30, as FBNH (-6.05%), AFRIPRUD (-3.94%), CUSTODIAN (-3.75%), PZ (-1.54%), FIDELITYBK (-0.72%), UBA (-0.59%), and NESTLE (-0.36%), also depreciated in price.

However, the market breadth closed positive, recording 23 gainers and 15 losers.