Amid Easter Festive Period, Equities Market Investors Lose N3bn

The Nigerian equities market experienced a mild pullback as investors lost N3 billion amid Easter festive period.

The All Share Index (ASI) lost 4.66 points, representing a decline of 0.002 per cent to close at 201,698.89 points. Also, market capitalisation lost N3 billion to close at N129.806 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, John Holt, Oando, Honeywell Flour Mills and Abbey Mortgage Bank.

Cowry Assets Managemnet Limited stated that “in the next session, investors are likely to return with renewed appetite and position readjustments as activity resumes on Tuesday.”

Market breadth was broadly positive as 33 advancers outpaced 24 decliners. Unilever Nigeria recorded the highest price gain of 10 per cent to close at N103.40, per share. Fortis Global Insurance followed with a gain of 9.82 per cent to close at N1.23, while Multiverse Mining & Exploration up by 9.81 per cent to close at N20.15, per share.

Legend Internet rose by 9.38 per cent to close at N6.30, while Zichis Agro Allied Industries appreciated by 9.02 per cent to close at N14.14, per share.

On the other hand, John Holt led the losers’ chart by 9.91 per cent to close at N15.45, per share. Abbey Mortgage Bank followed with a decline of 9.60 per cent to close at N8.95, while International Energy Insurance declined by 6.48 per cent to close at N3.32, per share.

Chams Holding Company depreciated by 5.30 per cent to close at N3.75, while Tantalizer declined by 5.18 per cent to close at N4.03, per share.

The total volume traded declined by 31.33 per cent to 559.977 million units, valued at N19.263 billion, and exchanged in 49,676 deals. Transactions in the shares of Secure Electronic Technology topped the activity chart with 59.692 million shares valued at N61.129 million. Wema Bank followed with 51.966 million shares worth N1.358 billion, while VFD Group traded 36.030 million shares valued at N410.445 million.

Access Holdings traded 35.245 million shares valued at N914.833 million, while Chams Holding Company sold 30.992 million shares worth N115.030 million.