Stocks shed N198bn as Cadbury, BUA Cement lead losers

The nation’s stock market closed on a negative on its last trading day in June as 34 firms, led by Cadbury Nigeria Plc and BUA Cement Plc, recorded losses on Tuesday.

The Nigerian Stock Exchange All-Share Index depreciated by 1.53 per cent, while the market breath closed negative with 10 gainers and 34 losers.

The ASI dropped by 379 basis points from 24,859.89bps the previous day to 24,479.22bps on Monday, while the market capitalisation of equities depreciated by N198bn to close at N12.77tn from N12.98tn.

On the activity chart, the premium subsector dominated in volume with 99.26 million shares traded in 1,313 deals. The subsector was enhanced by the activities in the shares of FBN Holdings Plc and Zenith Bank Plc.

The banking subsector was boosted by the activities on the shares of Fidelity Bank Plc and Guaranty Trust Bank Plc, with 26 million units traded in 591 deals.

Investors traded a total of 422 million shares in 3,448 deals on Tuesday.

Neimeth International Pharmaceuticals Plc led the gainers’ table with a gain of 10 per cent to close at N1.65 per share.

Okomu Oil Palm Plc rose by 9.94 per cent to close at N77.40 per share, while ABC Transport Plc appreciated by 9.80 per cent to close at 56 kobo per share.

On the other hand, Cadbury Nigeria Plc and BUA Cement Plc led the losers’ table with a drop of 10 per cent each to close at N6.75 and N38.70 per share respectively.

Unity Bank Plc followed with a loss of 9.43 per cent to close at 48 kobo per share while Berger Paints Plc dropped by 9.40 per cent to close at N6.75 per share.

<<PUNCH>>