Nigerian Stocks shed N513.67b in four days profit taking on the Exchange

The equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by 0.40 per cent to close at 29,434.46 basis points, compared with the 1.26 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 15.07 per cent

Market breadth also closed negative as Costain led 11gainers against 27losers topped by Presco at the end of yesterday’s session- an unimproved performance when compared with previous outlook.

Market turnover closed negative as volume declined by -58.36 per cent against 51.28 per cent uptick recorded in the previous session. Guaranty, UBA and UBCAP were the most active to boost market turnover. Guaranty and Nigerian Breweries topped market value list.

On sectoral indices, industrial recorded 0.88 per cent gain to emerge the most supportive sectoral index among others while NSE Banking emerged as worst hit to close with 2.28 per cent

Volume shockers included Presco which led the list of active stocks that record impressive volume spike at the end of yesterday’s session.

Meanwhile, on cement stocks, WAPCO topped Earnings Per Share (ESP) list as Dangote Cement recorded 25 per cent Year To Date loss.

A quick analysis on the year to date performance of the cement stocks thus revealed that Dangote Cement recorded 25 per cent year o date loss, closely followed by Ashaka Cement and Wapco with 14.20 per cent and 0.12 per cent recorded, respectively while CCNN recorded 13.57 per cent year to date gains.

A look at their earning per share revealed that Wapco topped the cement stocks eanings per share, closely followed by Dangote Ceent while CCNN led otherwise.

Per earning ratio review of the cement stocks showed that Dangote Cement topped as Ashaka Cement and CCNN followed while Wapco recorded the least ratio figure.
Dangote Cement topped cement stocks Return on Equity (RoE) ratio followed by Wapco and CCNN, while Ashaka Cement recorded the least ratio figure.

Also, Dangote Cement topped cement stocks Profit After Tax margin, as Ashaka cement and Wapco follow on the ladder while CCNN recorded the least percentage figure.