On Monday, share prices of Seplat-ExxonMobil, PZ Cussons and ETranzact experienced a dip on the Nigerian Exchange Limited, leading to the loss of N297bn investor’s funds
Seplat shed 10 percent to close at N2,962.30, PZ Cussons lost 9.91 percent to N25 and ETranzact declined by 9.68 percent to the day’s trading at N5.60.
The All-Share Index and market capitalisation decreased by 0.53 percent to close at 97,708.74 points and N55.26tn, respectively.
Notore Chemical Industries emerged as the most traded security in volume and value terms, with 74.43 million units worth N4.65bn transacted in a single trade. Other active stocks included Access Corporation, Universal Insurance and United Bank for Africa, as investors traded 439,100,001 units of shares worth N11.38bn in 8,607 deals.
Across sectors, the day’s performance was bearish, with the banking, insurance, consumer goods, and oil & gas indexes contracting by 0.75 percent, 0.64 percent, 0.33 percent, and 5.90 percent, respectively.
Meanwhile, the industrial goods index remained unchanged.
The market recorded 19 gainers in contrast to 24 losers.
Analysts had predicted mixed sentiment in the market this week as bulls and bears vie for dominance, while market players await corporate actions in anticipation of dividend income.
“Despite this, pockets of gains are expected as fiscal and monetary policies strive to steer the nation’s economy towards recovery, notwithstanding the forthcoming April 2024 CPI report and Q1 2024 Nigeria’s GDP report,” analysts at Cowry Assets Management said.
