Investors lose N17.06bn over sell-off in Lafarge Wapco, Fidelity Bank, others

By Kayode Tokede

The Nigerian Stock Exchange (NSE) equities market opened the week with negative trading, following profit-taking activities on Lafarge Wapco Plc, Fidelity Bank Plc   and United Capital Plc stocks.

Thus, the NSE All-Share Index declined by 0.1 per cent to 40,154.09 basis points from 40,186.70 basis points it closed on last Friday.

Accordingly, the Month-to-Date and Year-to-Date losses increased to -5.3 per cent and -0.3 per cent, respectively.

The total volume traded declined by six per cent to 289.34 million units, valued at N3.57 billion, and exchanged in 4,953 deals.

FBN Holdings Plc was the most traded stock by volume at 57.56 million units, while Guaranty Trust Bank Plc was the most traded stock by value at N820.55 million.

Analysing by sectors, the Banking (+0.2per cent) and Oil & Gas (+0.1 per cent) indices recorded gains, while the Industrial Goods (-0.6 per cent), Insurance (-0.1 per cent), and Consumer Goods (-0.1 per cent) indices recorded declines.

As measured by market breadth, market sentiment was negative, as 25 stocks declined, relative to 19 gainers. Africa Prudential Plc (-9.6 per cent) and LASACO (-9.5 per cent) recorded the largest losses of the day, while UPDCR EIT (+9.4 per cent ) and CHI PLC (+9.1 per cent) topped the gainers’ list.