Thursday, 06 May 2021 05:48

Stocks on NSE lose N193bn as sell pressure persists

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Nigerian stocks posted a further loss Wednesday, depreciating 0.92 per cent in a retreat led by bank stocks just as liquidity worsened by 18 per cent.

Profit-taking in the shares of Zenith, GTBank and Stanbic IBTC accounted most for the decline. Also weighing on performance, the oil and gas index slipped 2.29 per cent to 262.59 points.

A negative market breadth was recorded as 24 losers emerged against 15 gainers.

The all-share edged down by 367.97 points to 39,433.81. Similarly, market capitalisation slipped, falling by N193 billion to N20.637 trillion at the end of trade.

Year to date, the index is down by 2.08 per cent.

TOP FIVE GAINERS

Lasaco led the flock of gainers, appreciating by 9.62 per cent to close at N1.71. Linkage Assurance added up 9.43 per cent to end today’s trade at N0.58. Caverton went up by 9.09 per cent to N1.92. Sterling Bank rose to N1.60, notching up 8.11 per cent in the process. Regal Insurance completed the top 5, climbing by 6.67 per cent to N0.32.

TOP FIVE LOSERS

Stanbic IBTC was the worst-performing stock yesterday, declining by 10 per cent to close at N45. CWG shed 9.61 per cent to close at N2.07. Unilever fell to N12.30, losing 8.21 per cent. Courteville dipped to N0.23, recording 8 per cent depreciation. International Breweries closed at N5.30, going down by 7.02 per cent.

TOP FIVE TRADES

In all, 349.559 million shares estimated at N3.501 billion were traded in 4,554 deals.

FBN Holdings was the most active stock with 111.872 million units of its stocks worth N643.188 billion traded in 262 deals. Access Bank shares of 40.879 million units, priced at N309.952 million exchanged hands in 388 transactions.

Ekocorp traded 40 million shares estimated at N236 million in 2 transactions. Zenith Bank traded 25.036 million shares valued at N544.352 million in 522 deals. UBA had 18.047 million shares valued at N130.313 million traded in 179 deals.

 

PT