Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears sustained grip on the local bourse following profit taking by investors.
The local bourse recorded eight gainers against 15 losers to sustain downward trend for the fourth consecutive trading session.
Consequently, the All- Share Index dipped 86.01 basis points or 0.35 per cent to close at 24,114.59 index points as against 24,200.60 recorded the previous trading session while market capitalisation of equities depreciated by N45 billion from N12.624 trillion the previous day to N12.579 trillion as market sentiment remained on the negative territory.
Meanwhile, a turnover of 208.20 million shares exchanged in 4,174 deals was recorded in the day’s trading.
The banking sub-sector was the most active (measured by turnover volume); with 102.52 million shares exchanged by investors in 1,031 deals. Volume in the sub-sector was largely driven by activities in shares of Sterling Bank Plc and GT Bank Plc.
Also, the premium subsector boosted by activities in shares of UBA Plc and Zenith Bank Plc followed with a turnover of 46.33 million shares in 1,557 deals.
Further analysis of the day’s trading showed that in percentage terms, Unilever Nigeria Plc topped the day’s gainers’ table with 9.64 per cent to close at N13.65 per share while Chams Plc and Regency Alliance Insurance Plc followed with 4.55 per cent each to close at 23 kobo apiece per share. Japual Oil Plc added 4.17 per cent to close at 25 kobo per share.
On the flip side, ARBICO Nigeria Plc led the losers with a drop of 9.94 per cent to close at N1.54 per share while GSK Plc shed 9.38 per cent to close at n4.35 per share. ABC Transport Plc trailed with 9.00 per cent to close at 50 kobo per share.