Activities on the Nigerian Stock Exchange (NSE) sustained losses for two days following offloading of shares by both local and foreign investors. Consequently, leading company shareholders yesterday lost about N285 billion or 2.9 per cent. The All-Share Index shed 528.53 basis points or 1.92 per cent to close at 27,004.50 basis points as against 27,533.03 recorded the previous day while market capitalisation of equities depreciated by N182 billion or 1.92 per cent to close lower at N9.284 trillion as against N9.466 trillion recorded the previous day.
Meanwhile, a turnover of 240.7 million shares worth N2.4 billion in 3,061 deals was recorded in the day’s trading. The banking services sector of the financial services sector was the most active during the day (measured by turnover volume); with 94.9 million shares worth N694.1 million exchanged by investors in 734 deals.
Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Access Bank Plc. Also, the Premium board sub-sector, boosted by activities in the shares of Zenith Bank Plc and FBNH Plc, followed with a turnover of 84.4 million shares valued at N986.9 million in 983 deals.
Further analysis of the day’s trading showed that 15 stocks recorded gains while 24 others depreciated in price. Seplat Petroleum Plc topped the day’s gainers’ table with five per cent to close at N217.35 per share while Law Union and Rock Insurance Plc followed with 4.98 per cent to close at 64 kobo per share.
Ikeja Hotel Plc gained 4.67 per cent to close at N3.14 per share. On the flip side, Unity Bank Plc led the losers with a drop of 8.57 per cent to close at 64 kobo per share while Transcorp Nigeria Plc shed 8.55 per cent to close at N1.39 per share. Dangote Cement Plc trailed with five per cent to close at N162.19 per share.\
–independentnig