The Nigerian stock market yesterday posted its first loss in the year as the overall capitalisation shed N152 billion, following sell-offs on Northern Nigeria Flour Mills (NNFM) and 50 others.
Consequently, the All-Share Index (ASI) dipped by 249.42 points, representing a loss of 0.24 per cent to close at 103,398.82 points. Also, market capitalisation depreciated by N152 billion to close at N63.051 trillion.
The negative performance was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Northern Nigeria Flour Mills (NNFM), Vitafoam Nigeria, Africa Prudential, Zenith Bank and SUNU Assurance.
Investor sentiment, as measured by market breadth, closed negative as 19 stocks advanced, while 51 declined. Abbey Mortgage Bank and PZ Cussons Nigeria recorded the highest price gain of 10 per cent each to close at N3.63 and N27.50 respectively, while Learn Africa followed with a gain of 9.90 per cent to close at N5.44, per share.
NCR Nigeria rose by 9.77 per cent to close at N7.30, while Nigerian Exchange Group appreciated by 9.72 per cent to close at N29.90, per share.
On the other hand, FTN Cocoa Processors, RT Briscoe Nigeria and Veritas Kapital Assurance led the losers’ chart by 10 per cent each to close at N1.80, N2.70 and N1.53 respectively, per share.
SUNU Assurance and Cornerstone Insurance followed with a decline of 9.98 per cent each to close at N10.01 and N4.15 respectively, while Honeywell Flour Mills shed 9.92 per cent to close at N7.54, per share.
The total volume traded increased by 30.0 per cent to 1.112 billion units, valued at N14.638 billion, and exchanged in 16,617 deals. Transactions in the shares of FBNH Holdings (FBNH) topped the activity chart with 161.460 million shares valued at N4.715 billion. AIICO Insurance followed with 120.703 million shares worth N225.444 million, while Tantalizers traded 104.762 million shares valued at N267.395 million.
Universal Insurance traded 93.811 million shares valued at N78.058 million, while Regency Alliance Insurance sold 47.325 million shares worth N44.546 million.
