Business

NSE erases previous day gain with 0.16% loss

Trading activities on the floor of the Nigerian Stock Exchange yesterday closed on the negative route to upturn previous day’s gain as bears regained grip following the sell-off witnessed on blue chip firms.
The local bourse recorded nine gainers against 10 losers to close the trading session on the negative route.

Consequently, the All-Share Index dipped 39.48 basis points or 0.16 per cent to close at 24,933.41 index points as against 24.972.89 recorded the previous trading session while market capitalisation of equities depreciated by N21 billion from N13.027 trillion the previous day to N13.006 trillion as market sentiment returned on the negative territory.
Meanwhile, a turnover of 171.21 million shares exchanged in 3,315 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 44.98 million shares exchanged by investors in 1,208 deals.
Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and UBA Plc.

Also, the banking sub-sector boosted by activities in shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 39.37 million shares in 490 deals.
Further analysis of the day’s trading showed that in percentage terms, C and I Leasing Plc topped the day’s gainers’ table with 9.52 per cent to close at N4.60 per share while AIICO Insurance Plc followed with 8.99 per cent to close at 97 kobo per share. Mutual Benefits Assurance Plc added 4.76 per cent to close at 22 kobo per share.

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