Nigerian Stock Exchange Declines by N134.4bn

Nigerian stock market
  • Nigerian Stock Exchange Declines by N134.4bn

The Nigerian Stock Exchange market declined by N134.4 billion on the first trading day of 2019.

The market capitalisation of listed companies on the NSE dropped from N11.720 trillion recorded on December 31, 2018 to N11.586 trillion on Wednesday 2, 2019.

A total of 214.410 million shares valued at N1.56 billion were traded in 2,856 transactions. Volume and value traded fell by 76.9 percent and 60.5 percent, respectively.

All-Share Index declining by 1.15 percent with a year-to-date return of -1.1 percent.

The most traded stocks by volume were Diamond Bank Plc (50.7 million units), Zenith Bank Plc (36.4 million units) and Sovereign Trust Insurance Plc (32.9 million units), while Zenith Bank (N413.6m), Dangote Cement (N596.5m) and Guaranty Trust Bank Plc (N181.1m) were the top traded stocks by value.

The bank sector was the only gainer, rising slightly by 0.08 percent, where the other index closed in the red. The bearish performance was in line with the weak performance of the equity market.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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