Equities Record First Decline in March

Equities Record First Decline in March
Oladejo Amos
The equity market depreciated for the first time in the month of March on the Nigerian Stock Exchange on Tuesday as some investors took profit from the gains recorded from the beginning of the month.
Specifically, the benchmark index of equities dropped by 0.53 per cent to close at 25,755.01 points, compared to the decline of 0.27 per cent recorded the preceding day to close at 25,890 points.
The year-to-date depreciated stood at 10.08 per cent.
Market capitalization shed N47 billion to close at N8.859 trillion, in contrast to the increase of N25 billion recorded the preceding day to close at N8.906 trillion.
The total value of stocks traded  was N1.42billion, up by 7.91 per cent from N1.31billion traded on Monday, while the total volume of stocks traded was 233.42million in 3,224 deals.
 The three most actively traded stocks were FCMB, UBA and Zenith Bank.
On the gainer’s table,  Oando Plc led the chart with 37 kobo or 10.11 per cent to close at N4.03 per share, followed by Tiger Brands Plc with 18 kobo or 9.52 per cent to close at N2.07 per share.
United Bank for Africa Plc added 26 kobo or 8.13 per cent to close at N3.46 per share, while Union Bank Plc gained 38 kobo or 6.79 per cent to close at N5.98 per share.
Honeywell Flour Mills Plc appreciated seven kobo or 4.86 per cent to close at N1.51 per share.
On the flip side, United Capital Plc shed eight kobo or 4.76 per cent to close at N1.60 per share, while NPF Microfinance Bank Plc lost five kobo or 4.46 per cent to close at N1.07 per share.
Dangote Cement Plc dropped N4.88 or 2.90 per cent to close at N163.12 per share, while NEM Insurance Plc was down two kobo or 2.67 per cent to close at 73 kobo per share.
Sterling Bank Plc fell four kobo or 2.29 per cent to close at N1.71 per share.
A total of 233.4 million shares valued at N1.42 billion were traded in 3,224 deals.