New Telegraph

NSE halts gaining streak, loses N14bn

Activities on the Nigerian Stock Exchange (NSE) closed negative yesterday, reversing six days’ positive sentiments following losses recorded by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, dropped 0.10 per cent to close the trading session negative as market sentiments returned to a negative position following investors’ appetite to increase capital gains.

Consequently, the All-Share Index lost 25.85 basis points or 0.10 per cent to close at 25,304.25 as against 25,330.10 recorded the previous day while the market capitalisation of equities depreciated by N14 billion or 0.14 per cent to close at N13.200 trillion from N13.214 trillion as market sentiment returned on the red zone. Meanwhile, a turnover of 251.29 million shares exchanged in 2,954 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 70.66 million shares exchanged by investors in 1,045 deals. Volume in the sub-sector was largely driven by activities in the shares of FBNH Plc and UBA Plc.

The banking sub-sector, boosted by activities in shares of GTBank Plc and Wema Bank Plc, followed with a turnover of 17.89 million shares in 1,045 deals. The number of gainers at the close of trading session was 11 while decliners closed at 19. May and Baker Plc led the gainers’ table by 9.89 per cent to close at N3.00 per share respectively while UPL Plc followed by 9.40 per cent to close at N1.63 per share. AXA-Mansard Plc added 9.36 per cent to close at N1.84 per share.

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