New Telegraph

February 23, 2024

NSE upturns previous day’s gain, loses N119bn

Equities trading activities on the floor of the Nigerian Stock Exchange yesterday closed negative to upturn previous day’s gain as bears regained grip following sell-off witnessed on blue chip firms. The bourse recorded 22 gainers against 15 losers to close the trading session on the negative route.

Consequently, the All- Share Index dipped 226.26 basis points or 0.57 per cent to close at 39,267.11 index points as against 39,493.37 recorded the previous trading session while market capitalisation of equities depreciated by N119 billion from N20.663 trillion the previous day to N20.544 trillion as market sentiment returned on the negative territory.

Meanwhile, a turnover of 336.13 million shares exchanged in 4,394 deals was recorded in the day’s trading. The banking sub-sector was the most active (measured by turnover volume); with 121.23 million shares exchanged by investors in 763 deals. Volume in the sub-sector was largely driven by activities in the shares of UBN Plc and GTBank Plc. Also, the premium sub-sector boosted by activities in shares of Zenith Bank Plc and Access Bank Plc followed with a turnover of 53.25 million shares in 1,192 deals.

Further analysis of the day’s trading showed that in percentage terms, Livestock Feeds Plc topped the day’s gainers’ table by 9.66 per cent to close at N1.93 per share while Cornerstone Insurance Plc and Courtiville Business Solutions Plc followed with 9.06 per cent to each to close at 60 kobo and 24 kobo per share respectively. NPF MFB Plc added 8.33 per cent to close at N1.95 per share.

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