x

NSE: Market indicators sustain downtrend by 0.02%

The Nigerian equities market sustained negative trend on Wednesday with the market indices dropping marginally by 0.02 per cent.

Speficially, the All-Share Index dipped 4.55 points or 0.02 per cent to close at 29,458.21 compared with 29,462.76 recorded on Tuesday.

Similarly, the market capitalisation lost three billion naira or 0.02 per cent to close at N15.173 trillion against N15.176 trillion achieved on Tuesday.

The downturn was impacted by loses recorded in medium and large capitalised stocks, amongst which are, Julius Berger, Flour Mills of Nigeria, NASCON, Lafarge Africa and Zenith Bank.

Capital market analysts attributed the decline to profit taking embarked by investors on highly capitalised equities.

Analysts at Afrinvest Limited expected bargain hunting to dominate the market in the near term.

The market breadth closed with 15 gainers and 18 losers.

Law Union and Rock Insurance dominated the gainers’ table in percentage terms, gaining 10 per cent to close at 60k per share.

AIICO Insurance followed with a gain of 8.64 per cent to close at 88k, while Honeywell Flour Mills rose by 8.33 per cent to close at N1.17 per share.

Cutix improved by 5.15 per cent to close at N1.43, while Abbey Mortgage Bank rose by five per cent to close at N1.05 per share.

Conversely, Julius Berger led the laggards’ table in percentage terms, dropping by 6.76 per cent to close at N20 per share.

NASCON trailed with a loss of 4.46 per cent, to close at N15, while Courteville shed 4.17 per cent to close at 23k per share.

Transcorp dipped by 3.74 per cent to close at N1.03, while Lasaco Assurance went down by 3.70 per cent, to close at 26k per share.

Total volume traded rose by 15.7 per cent to 315.67 million shares, valued at N3.64 billion, and exchanged in 4,392 deals.

Transactions in the shares of Austin Laz topped the activity chart with an exchange of 85 million shares valued at N174.41 million.

Access Bank traded 60.52 million shares worth N600.92 million, while Guaranty Trust Bank sold 26.46 million shares valued at N849.98 million.

Zenith Bank accounted for 25.73 million shares worth N564.76 million, while United Bank for Africa traded 16.86 million shares valued at N144.05 million.

In all, investors bought and sold 315.67 million shares worth N3.64 billion achieved in 4,392 deals.

This was in contrast with a turnover of 272.84 million shares valued at N3.71 billion shares transacted in 4,945 deals on Tuesday. (NAN)

Hot this week

Wike Condoles With Arise News Over Death Of News Anchor, Vows Killers Will Be Apprehended

By Joyce Remi-Babayeju The FCT Minister, Barr. Nyesom Wike, has...

PCRC Zone 4 Trains Members on Community Policing in Lafia

By Leo Zwanke, Lafia The Police Community Relations Committee (PCRC),...

Tinubu Gives Joy to Abuja Locals, Flags Off Community Road Network

By Joyce Remi-Babayeju President Bola Ahmed Tinubu has given joy...

FG Declares Wednesday, October 1, Public Holiday to Mark Nigeria’s 65th Independence Anniversary

The Federal Government has officially declared Wednesday, October 1,...

NYCN Launches Tinubu CARES, Empowers Traders as Nigeria Marks 65th Independence

…Rolls out entrepreneurship fund to boost small businesses …..Distributes modern...

Wike Condoles With Arise News Over Death Of News Anchor, Vows Killers Will Be Apprehended

By Joyce Remi-Babayeju The FCT Minister, Barr. Nyesom Wike, has...

Sixty-Five Cheers to a Great Nation in Need of True Reflections

The Pan Niger Delta Forum (PANDEF), on behalf of...

Nigeria @65: United, prosperous nation possible under Tinubu administration – Amagbein

By Our Correspondent Better, united and prosperous Nigeria is possible...

NNPC Foundation Boosts Economy with Agricultural Intervention, Say Kano Farmers

By Jabiru Hassan Farmers in Kano State have commended the...

Kogi Boat Mishap: Death Toll Rises to 36, 40 Rescued

By Noah Ocheni, Lokoja The National Inland Waterways Authority (NIWA)...

Nigeria @65: Claims of Progress Are Deceptive – Activist Ukegbu

A social rights activist, Comrade Okechukwu Keshi Ukegbu, has...

Related Articles

Popular Categories

spot_imgspot_img