x

NSE market indices sustain negative posture, down 0.75%

The Nigerian Stock Exchange (NSE) market indices sustained negative posture on Wednesday, dropping further by 0.75 per cent due to profit taking.

Speficially, the All Share Index lost 220.65 points or 0.75 per cent to close at 29,062.50 compared with 29,283.15 posted on Tuesday.

Similarly, the market capitalisation which opened at N15.106 trillion dipped N114 billion or 0.75 per cent to close at N14.992 trillion.

The downturn was impacted by losses achieved in medium and large capitalised stocks, amongst which were; MTN Nigeria, BUA Cement, Ecobank Transnational, UACN and Dangote Sugar.

Analysts at Afrinvest Limited stated: “Although yesterday’s performance was negative, we expect a better performance in successive sessions due to bargain hunting.”

Market breadth closed negative, with 11 gainers and 17 losers.

Livestock Feeds and Sovereign Trust Insurance led the losers’ chart in percentage terms, losing 9.09 per cent each, to close at 50k and 20k per share respectively.

DN Meyer followed with a decline of eight per cent to close at 46k per share.

ETI dropped 7.69 per cent to close at N7.20, while Fidson shed 5.45 per cent to close at N2.60 per share.

Conversely, Beta Glass recorded the highest price gain to lead the gainers’ chart in percentage terms, increasing 10 per cent to close at N64.90 per share.

Cornerstone Insurance trailed with a gain 9.43 per cent to close at 58k, while Glaxo SmithKline appreciated by 7.14 per cent to close at N6.00 per share.

Forte Oil increased by 6.44 per cent to close at N19, while Transcorp rose by 4.85 per cent to close at N1.08 per share.

An analysis of the activity chart indicates that transactions in the shares of Morison Industries topped the activity chart with 126.77 million shares valued  N57.05 million.

Access Bank followed with 52.47 million shares worth N536.58 million, while United Bank for Africa traded 31.97 million shares valued at N274.10 million.

Zenith Bank sold 31.55 million shares worth N674.03 million, while Transcorp transacted 17.86 million shares valued N19.01 million.

Consequently, the total volume traded decreased by 46 per cent as investors bought and sold 360.08 million shares worth N2.83 billion traded in 4,345 deals.

This was in contrast with a turnover of 666.78 million shares valued at N6.52 billion in 5,711 deals on Tuesday.(NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Gov. Ododo Commissions Boi’s Office to Boost Industrial Sector in Kogi

By Noah Ocheni, Lokoja The Governor of Kogi State, Alhaji...

Ododo to Officials: Prioritise Grassroots, Local Support

By Noah Ocheni, Lokoja The Kogi state Governor, Alhaji Ahmed...

Ododo Clears ₦98.8bn Kogi Debt

Gov. Ododo Offsets 98.8 bíllion debts inherited from Ex-govs...

oborevwori to Aides: Perform or Be Replaced

By Anne Azuka  Governor Sheriff Oborevwori of Delta State has...

I Will Support “Asiwaju” To Win ln 2027, Wike Fires Back At PDP

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

Amaechi is Hungry For Power, Not Influential Politician – Wike

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

2025 Ballon d’Or: 3 PSG Stars Emerge as Top Contenders Ahead of Lamine Yamal, Raphinha

Paris Saint-Germain’s historic UEFA Champions League triumph has positioned...
spot_img

Related Articles

Popular Categories

spot_imgspot_img