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NSE’s market cap shed N152.1 billion as bears take over

NSE’s market cap shed N152.1 billion as bears take over

Investors in the Nigerian equities market lost about N152.1 billion at end of trading last week. This was attributed to losses recorded in some medium and large capitalized stocks, such as MTN Nigeria, First Bank Holdings, Access Bank, Guinness Nigeria and Nestle Nigeria.

Equities market started the week with a capitalisation of N14.62 trillion but closed at N14.47 trillion, indicating a 1.04% decline.

The all-share index, which opened at 28,067.09 index points, witnessed a 1.11% decline to close the week at 27.755.87 index points.

Premium Board 

On the Premium board, there was only one gainer during the week, Lafarge Africa which gained 1.3% to close at N15.5.

Meanwhile, Access Bank lost the most with 1.02% loss to close at N9.7 followed by MTN Nigeria, which dipped 0.85% to close at N116.

 

First Bank Holdings lost 0.83% to close at N5.95, Zenith bank dipped 0.76% to close at N19.65 while UBA rounded off the list with 0.65% to close at N7.7.

Mainboard gainers 

Livestock Feed Plc was the best performing stock during the week with 16.7% gain to close at N0.7 followed by United Capital Plc which gained 15.3% to close at N2.94.

Trans-nationwide Express also gained 11.1% to close at N0.9, as Learn Africa recorded 9.7% gain to close at N1.24 while Prestige Assurance rounded the list with 9.26% to close at N0.59.

Mainboard decliners 

Linkage Assurance was the worst-performing stock in the week ended 14th February 2020 with 25.8% loss to close at N0.46 followed by Skyway Aviation, which dipped 23.3% of its stock value to close at N2.87.

Guinness Nigeria lost 16.6% to close at N25.2, Vitafoam Nigeria dipped 12.1% to close at N4.79 while Nestle Nigeria and Neimeth Pharmaceuticals both lost 10% to close at N1,242 and N0.45 respectively.

source:- https://nairametrics.com/2020/02/16/investors-part-with-n152-1-billion-as-bearish-trade-extends/