Sustained sell pressure witnessed on shares of some blue-chip firms quoted on the Nigerian Exchange has resulted in shareholders of BUA Foods Plc losing about N107.100 billion in a day trading.
Checks by Nairametrics showed that the company’s stock dropped by 9.92% to N54.00 per share from N59.95 the previous day.
Further analysis showed BUA Foods closed the day at N54.00 per share and N972 billion in market capitalisation on the Nigerian Stock Exchange (NGX) as against N59.95 per share and N1.079 trillion in market capitalisation the previous day, hence earning a loss of N107.100 billion or 9.92%.
Consequently, the NGX closed negative amidst buy-interests and sell-offs as bears dominated proceedings for the sixth consecutive day.
The All-share Index (ASI) depreciated by 1.6% to close at 48,554.76 index points as against 49,344.67 index point the previous day. In the same vein, the overall market Capitalization declined by N426 billion or 1.6% to close at N26.188 trillion as against N26.614 trillion the previous day.
Market breadth closed negative with 20 losers against only nine gainers as BUA Foods Plc led the losers with 9.92% while FTN Cocoa Plc and NEM Insurance led the few gainers with 10% apiece.
Market Indices
- NGX ASI: 48,554,76 points
- Previous ASI: 49,344.67 points
- % Day Change: 1.6%
- % Y-t-D: 13.67%
- Market Cap (N): 26.188 trillion
- Volume: 204.153
- Value: N 3.183 billion
- Deals: 3,533
NGX Top ASI gainers
- FTN COCOA up +10% to close at N0.33
- NEM up +10% to close at N4.40
- HONEYWELL +9.89% to close at N2.89
- UPL Â +9.88% to close at N1.89
- MUTUAL +7.41% to close at N0.29
NGX Top ASI losers
- BUA FOODS down – 9.92% to close at N54.00
- NNFM down – 9.88% to close at N7.75
- SEPLAT down – 8.44% to close at N1,300
- ETERNA down – 8.33% to close at N6.05
- NACHO down – 7.56% to close at N5.50
