BUA Foods Posts First Loss Since Listed, Stock Investors Lose N29 Billion

The Nigerian stock market opened the week in the red as 22 stocks lost points against 16 that gained. The newly listed BUA Foods Plc posted its first loss on Monday, shedding N4.20 or 6.36 percent from N66 per share to N61.80.

Since listed on January 5, 2022, the price of BUA Foods has risen by 65 percent to bolster the net worth of Abdulsamad Rabiu, the company’s major shareholder, by N420.5 billion.

Investors transacted 214,315,212 shares worth N2.689 billion in 4,410 deals during the trading hours of Monday. The market value of listed stocks dipped by N29 billion from N23.951 trillion recorded on Friday to N23.922 trillion on Monday. Market index, NGX All-Share Index depreciated by 0.12 percent to 44,399.66 index points.

Sectorial analysis showed the NGX Banking Index shed 8bps on JAIZBANK (-2.94%), UNITYBNK (-2.04%), STERLNBANK (-1.27%) and UBA (-1.21%). Losers were FIDELITYBK (+1.92%) and ETI (+1.16%).

The NGX Consumer Goods Index gained 20bps on NB (+2.83%) and HONYFLOUR (+0.30%).  INTBREW (-3.88%) and PZ (-2.10%) lost points.

The NGX Oil and Gas Index gained 21bps on ETERNA (+6.95%) and OANDO (+0.42%) while the NGX Industrial index gained 81bps on BUACEM (+2.19%). CUTIX (-2.03%) and WAPCO (-0.78%) lost points.

The Exchange year-to-date return moderated to 3.94 percent from 4.01 percent it closed on Friday. See top gainers and losers below.

Top Gainers

Top Losers

Top Trades