Business

NSE extends decline by N278bn

Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears sustained their grip on the local bourse following profit taking by investors.

 

The local bourse recorded 17 gainers against 30 losers to sustain downward trend for the second consecutive trading session.

 

Consequently, the All- Share Index dipped 531.25 basis points or1.53 per cent to close at 34,242.83  index points as against 34,774 recorded the previous trading session while market capitalisation of equities depreciated by N278 billion from N18.170 trillion the previous day to N17.892 trillion as market sentiment remained on the negative territory.

 

Meanwhile, a turnover of 9.36 billion shares exchanged in 8,712 deals was recorded in the day’s trading.

 

The banking sub-sector was the most active (measured by turnover volume); with 370.39 million shares exchanged by investors in 1,435 deals. Volume in the subsector was largely driven  by activities in shares of Jaiz Bank Plc and GTBank Plc.

 

Also, the remium sub-sector boosted by activities in shares of FBNH Plc and UBA Plc followed with a turnover of 232.97 million shares in 3,287 deals.

 

Further analysis of the day’s trading showed that in percentage terms, BOC Gases Plc topped the day’s gainers’ table with 9.96 per cent to close at N5.85 per share while GSK Nigeria Plc followed with 9.56 per cent to close at N7.45 per share. Conoil Plc added 9.45 per cent to close at N20.85 per share.

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