New Telegraph

Japaul, NEM Insurance lead N91bn decline

Equities trading at the Nigerian Stock Exchange yesterday witnessed another drop in share prices for the second trading session as bears sustained their grip following profit taking by investors. The local bourse recorded only 16 gainers and 30 losers to sustain downward trend.

The losers were led by Japaul Plc and NEM Insurance Plc. Consequently, the All-Share Index dipped 175.56 basis points or 0.44 per cent to close at 39,522.06 index points as against 39.697.62 recorded the previous trading session while market capitalisation of equities depreciated by N91 billion from N20.769 trillion the previous day to N20.678 trillion as market sentiment remained on the negative territory. Meanwhile, a turnover of 244.34 million shares exchanged in 4,714 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 83.52 million shares exchanged by investors in 1,755 deals. Volume in the subsector was largely driven by activities in shares of FBNH Plc and Zenith Bank Plc. Also, the banking subsector boosted by activities in shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 47.56 million shares in 661 deals. Further analysis of the day’s trading showed that in percentage terms, Seplat Petroleum Plc topped the day’s gainers’ table by 10 per cent to close at N583 per share while AIICO Insurance Plc followed with 5.22 per cent to close at N1.21 per share. Cornerstone Insurance Plc added 5.17 per cent to close at 61 kobo per share. On the flip side, Japaul Gold Plc led the losers by 10 per cent to close at 54 kobo per share while NEM Insurance Plc shed 9.91 per cent to close at N1.91 per share. Champion Breweries Plc trailed with 9.76 per cent to close at N1.85 per share.

Read Previous

FCMB unveils paperless, cardless transactions

Read Next

Spotify lands in Nigeria, Ghana, others

Leave a Reply

Your email address will not be published. Required fields are marked *