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Losses in BUA Foods, 20 others dip capitalisation by N79 billion

By Helen Oji
09 February 2022   |   4:09 am
The Nigerian equities market sustained a sliding profile at yesterday’s transactions, occasioned by losses in the shares of BUA Foods and 20 others, causing market capitalisation to dip further by N79 billion.

The Nigerian equities market sustained a sliding profile at yesterday’s transactions, occasioned by losses in the shares of BUA Foods and 20 others, causing market capitalisation to dip further by N79 billion.

Yesterday, the All-Share Index declined by 146.15 per cent, representing a decrease of 0.31 per cent, to close at 47,057.24 points. Similarly, the overall market capitalisation value lost N79 billion to close at N25.357 trillion.

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are: BUA Foods, MTN Nigeria Communications (MTNN), Unilever Nigeria, Fidson Healthcare and United Capital.

Market sentiment, as measured by market breadth, was negative, as 21 stocks lost, relative to 18 gainers.

On the price movement chart, Courteville Business Solutions led the losers’ chart by 7.27 per cent to close at 51 kobo. UACN Property Development Company (UPDC) followed with a decline of 5.66 per cent to close at N1.00 kobo while University Press lost 5.41 per cent to close at N2.45 kobo.

Unilever Nigeria lost 4.36 per cent to close at N13.15 kobo while BUA Foods shed 4.04 per cent to close at N61.80 kobo. Mutual Benefit Assurance depreciated by 3.85 per cent to close at 25 kobo. Cutix depreciated by 3.61 per cent to close at N2.40 kobo.

Caverton dropped 3.33 per cent to close at N1.45 kobo. Fidson depreciated by 2.97 per cent to close at N7.85 kobo. NPF Micro Finance Bank also dropped 2.38 per cent to close at N2.05 kobo.

On the other hand, Presco recorded the highest price gain of 10 per cent to close at N104.50 kobo. NEM Insurance followed with a gain 9.97 per cent to close at N3.31 kobo.

Ikeja Hotel gained 9.77 per cent to close at N1.46 kobo. SUNU Assurance rose by 9.09 per cent to close at 36 kobo while AIICO Insurance appreciated by 5.80 per cent to close at 73 kobo.

Oando garnered 5.68 per cent to close at N5.02 kobo. Multiverse added 5.00 per cent to close at 21 kobo. Flourmills gained 2.57 per cent to close at N29.95 kobo. Wema Bank appreciated by 2.35 per cent to close at 87 kobo. NGX Group also added 1.84 per cent to close at N24.95 kobo.

The total volume traded declined by 16.56 per cent to 238.216 million shares, worth N5.085 billion, and traded in 4,826 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 32.354 million shares valued at N887.764 million.

Zenith Bank followed with 24.325 million shares worth N653.468 million, while Fidelity Bank traded 22.295 million shares valued at N63.932 million.

Transnational Corporation of Nigeria (Transcorp) traded 21.397 million shares valued at N24.845 million, while Nigerian Exchange Group (NGXGroup) transacted 17.231 million shares worth N426.631 million.

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