Profit Takers Extend Nigerian Equity Market Dip By 2.4%

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LAGOS, FEBRUARY 14, 2018 – Just like in the last six trading days, the local bourse remained in the red yesterday when it extended the bearish run into the seventh consecutive trading session with the All Share Index (ASI) falling 2.4 per cent to settle at 41,708.15 points while YTD return contracted to 9.1 per cent.

As a result, market capitalisation decreased by N369.5 billion to N14.9 trillion.

Sustained sell-offs across board was experienced with Dangote Cement (-4.9%), Nigerian Breweries

(-3.9%) and Nestle Nigeria (-2.9%) being the major drags on performance.

Similarly, activity level weakened as volume and value traded fell 9.1 per cent and 29.0 per cent to 470.5 million units and N3.7 billion respectively.

Performance across sectors was bearish as all indices trended southwards. The consumer goods index was the biggest loser, down 2.8 per cent following price depreciation in Nigerian Breweries (-3.9%) and Nestle Nigeria (-2.9%).

Diamond Bank emerged the most traded equity on Tuesday with an exchange of 67.697 million shares worth N181.139 million. It was trailed by First City Monument Bank having accounted for 49.224 million shares valued at N126.181 million, while Fidelity Bank recorded 42.775 million shares worth N129.548 million; United Bank for Africa exchanged 39.158 million shares valued at N437.585 million while FBN Holdings traded 32.595 million shares worth N358.638 million.

DCSL 90X780

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