New Telegraph

NSE sustains decline with N9bn loss

The Nigerian equities market yesterday tumbled for the third consecutive trading day as sell pressure continued following crave for capital gains. However, market breadth closed in green, producing 11 losers against 17 gainers. Key market indicators, the NSE ASI, declined by 0.07 per cent as bargain hunters continued to remain on the sideline following growing investment apathy. Consequently, the All- Share Index dipped 17.57 basis points or 0.07 per cent to close at 25,532.74 as against 25.550.31 recorded the previous day while the market capitalisation of equities depreciated by N9 billion or 0.07 per cent to close at N13.343 trillion from N13.352 trillion. Meanwhile, a turnover of 231.20 million shares exchanged in 3,360 deals was recorded in the day’s trading.

The premium sub-sector was the most active during the day (measured by turnover volume); with 106.38 million shares exchanged by investors in 1,368 deals. Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and Access Bank Plc. The banking sub-sector boosted by activities in shares of Wema Bank Plc and GTB Plc followed with a turnover of 42.61 million shares traded in 455 deals.

Shares of International Breweries Plc led the gainers chart, appreciating by 10 per cent to close at N3.30 per share. Wapic Plc followed with a gain of 9.09 per cent to close at 36 kobo per share while NPF MFB Plc gained 8.33 per cent to close at N1.30 per share.

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