Omo, wetin dey happen for Nigerian stock market na serious matter oo! As market don reverse gains wey dem dey enjoy for 23 days straight, investors don lose N457 billion just like that! E be like say dem no wan make more money again, abi wetin?
Last Thursday, na so the market capitalisation drop from N106.780 trillion to N106.323 trillion, that na 0.43 per cent loss. E be like say market don tire small small after all this enjoyment wey dem dey enjoy. The All-Share Index sef lose 714.66 points, settling for 166,057.29 against 166,771.95 wey dem get the day before. Na real wah!
As e be, 41 stocks decline while 36 gainer wan show face. McNicholas be the king of losers as e drop reach 9.99 per cent to land for N6.58. Caverton Offshore Support Group no too far behind, almost follow am as e wisdom drop 9.47 per cent to close at N7.65. Ikeja Hotel too japa with 9.43 per cent drop, ending for N35.05 per share.
The others wey dey lose ground include FTN Cocoa Processors wey fall 9.38 per cent, settling at N7.05, and Neimeth International Pharmaceutical wey drop 8.91 per cent go N9.20 per share. Na wah! But no worry, no be only wahala o, gainer sef dey shine among the losses.
For the gainer side, Nestlé Nigeria dey flex as e gain 10 per cent increase, landing for N2,153.80. NCR Nigeria too dey show say e get mouth as e increase by 9.97 per cent to N116.90. No forget Jaiz Bank wey run style gain of 9.92 per cent to end the session at N8.20 per share. Small Small, Morison Industries and Mecure Industries join am, gaining too. So na like this market dey balance small!
Market activity dey hot, with 1.03 billion shares wey waka worth N31.6 billion across 51,227 deals. Compared to the previous session wey dey hold 761.9 million shares na N29.9 billion, this represent 36 per cent increase in volume wey don come up, and na six per cent gain for value wey pass before. But dei dey miss that number of deals a bit, as e don decline by eight per cent.
Zenith Bank collect the highest value wey trade for N5.03 billion, dey hold 15.92 per cent of the total value for the day. Access Corporation and Zenith Bank dey account for 7.58 per cent and 7.00 per cent of volume traded respectively, so dem dey run the show well.
As we dey hear am from Mr. David Adonri wey be Vice President of Highcap Securities, him talk say market dey tire after all the gain wey don happen, so na normal thing make dem take small break. Him talk say investors dey reposition their portfolio cause earnings season don show face. No fear, market go soon gather momentum again, make we dey watch am!
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