Equities Market Further Closes Southwards, Down 1.06%

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NSELagos – Following losses incurred by major capitalised stocks, trading activities on the floor of the Nigerian Stock Exchange (NSE) closed again in red for the third consecutive trading session yesterday when the two major market indicators, the All Share Index and market capitalisation dipped by 1.06 per cent respectively.

The All-Share declined by 441.16 basis points or 1.06 per cent to close at 40, 802.08 points as against 41,243.24 points recorded on the previous trading day while Market Capitalisation also went down by N159.00 billion to close at N14.740 trillion compared to N14.899 trillion recorded on Tuesday.

Lafarge Cement WAPCO led the losers’ table with a loss of 230 kobo to close trading at N46.40 per share, trailed by Dangote Cement, which dropped 200 kobo to close at N253 per share, Total Nigeria went down by 170 kobo to close at N238.30 per share, Guaranty Trust Bank depreciated by 85 kobo to close at N42.75 per share while Ecobank Transnational Incorporation shed 75 kobo to close at N16.35 per share, among others.

Conversely, GlaxoSmithKline Consumer led the gainers’ table, when it gained 310 kobo to close trading at N34.00 per share followed by Unilever Nigeria which added 255 kobo to close at N55.00 per share, Stanbic IBTC gained 170 kobo to close at N48.00 per share, Nestle Nigeria nicked 130 kobo to close at N1340.30 per share, while PZ Cussons appreciated by 100 kobo to close at N23.00 to complete the gainers’ table.

Champion Breweries emerged the most active stock, trading 153.9 million shares worth N397.1 million, Skye Bank sold 104.6 million shares valued at N81.6 million, while Sterling Bank traded 41.2 million shares worth N72.2 million, FBN Holdings sold 28.5 million shares valued at N346.8 million, LASACO Assurance traded 23.98 million shares worth N8.15 million.

In spite of the drop in the market indices, the volume of shares traded rose by 51.66 per cent as investors bought and sold 535.19 million shares valued at N3.66 billion in 4,717 deals.

This was in contrast with 352.889 million shares worth N4.14 billion transacted in 4,807 deals on Tuesday.

The post Equities Market Further Closes Southwards, Down 1.06% appeared first on Independent Newspapers Nigeria.

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