The previous week, the stock market experienced some bearish trends whereby as much as 30 top companies in the country lost substantial amount of money of their share price.
Nigerian Breweries, Forte Oil, Cadbury Nigeria, Unilever Nigeria as well as Guinness Nigeria were some of the biggest losers in the equities market this week as they shed a combined N73 billion in their share prices.
But for some companies, it was bullish all the way as 25 companies recorded share price gain as against the 30 that lost leading to a 0.62% decline in the Nigerian Stock Exchange (NSE) All Share Index (ASI).
The NSE ASI declined to 34,507.85 points from 34,721.61 points the previous week while the equities market capitalisation dipped to N11.758trn from N11.831trn.
In 5,668 deals, equity buyers exchanged 354.453million units valued at N3.289bn.
Forte Oil plc led the losers’ table after its share price declined from N200 to N193.1, after losing N6.9, while Guinness Nigeria plc also dipped from N168 to N161.99, down by N6.01.
Nigerian Breweries plc dipped from N160.84 to N157.02, down by N3.82, just as Cadbury Nigeria plc declined from N41.01 to N39.2, down by N1.81, while Unilever Nigeria plc dipped from N41.65 to N40.01, losing N1.64.
Leading the gainers chart was Nestle Nigeria plc adding N7, to leap from N940 to N947. 7-Up Bottling Company plc gained N6.9, from N163.1 to N170 while PZ Cussons Nigeria plc added N1.35, from N27 to N28.35.
Flour Mills of Nigeria plc added N0.72, from N35.7 to N36.42 just ase Oando plc rose from N18.69 to N19.01, adding N0.32.