Stock  Market Maintains Trend As  ASI Drops 0.33%

By Nse Anthony-Uko

(Sundiata Finance) – The equities market continues downtrend as the All Share Index decreased by 0.33% to close 32,302.32 points compared to Tuesday’s closing rate of at 32,410.20 points

Additionally, market capitalization dropped by N37 billion to close at N11.133 trillion compared to Tuesday’s closing rate of N11.170 trillion. Its Year-to-Date (YTD) returns currently stands at 20.2 per cent.

Today’s trading top gainers list was led by Nestle Nigeria Plc which gained N0.5 to close at N901.05 per share. Berger Paints Plc followed, gaining N0.31 to close at N7.15 per share, while Nigerian Breweries Plc gained N158.35 to close at N0.3 per share.

United Bank for Africa Plc gained N0.18 to close at N8.38 per share, while FBN Holdings Plc gained N0.14 to close at N6.05 per share. Flour Mills Nigeria Plc recorded the highest price loss to lead the losers table, dropping by N2.49to close at N23.14 per share. Unilever Nigeria Plc followed as it dropped N1.84 to close at N35.03 per share, while Julius Berger Nigeria Plc dropped N1.69 to close at N32.14 per share.

Guinness Nigeria Plc dropped N1.54 to close at N63 per share, while PZ Cussons Nigeria Plc dropped N1.21 to close at N23.14 per share .

Although the equities market dropped by 0.33%, the YTD returns of 20.2 % signify that the market is still on the right track. The recent rally in the stock market is mainly attributed to monetary policy changes such as the investors & exporters’ foreign exchange window which allows investors to bring in their money at a well-known market-determined price

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