Business

NSE halts gaining streak, loses N6bn

Key performance indices, the NSE All Share Index (ASI), yesterday fell by 0.01 per cent to halt two days gaining streak as profit taking was witnessed following investors’ crave to increase capital gains.

Driven by most blue chip companies that closed with losses at the end of trading, the equities market closed the tradingdayonanegativenote. Consequently, the All- Share Index dropped marginally by 2.96 basis points or 0.01 per cent to close at 30,738.92 basis points as against 30,741.88 recorded the previous day while the market capitalisation of equities depreciated by N6 billion or 0.01 per cent to close flat at N16.062`trillion from N16.068 trillion as market sentiment returned to the red zone. Meanwhile, a turnover of 430.12 million shares exchanged in 4,319 deals was recorded in the day’s trading.

The premium sub-sector was the most active during the day (measured by turnover volume); with 178.37 million shares exchanged by investors in 1,299 deals. Volume in the sub-sector was largely driven by activities in the shares of FBNH Plc and Access Bank Plc. The bianking sub-sector boosted by activities in shares of Union Bank Plc and GT Bank Plc followed with a turnover of 59.86 million shares in 820 deals. The number of gainers at the close of trading session was 18 while decliners also closed at 17. Transcorp Plc led the gainers’ table by 9.86 per cent each to close at 78 kobo per share while Learn Africa Plc followed with a gain of 9.52 per cent to close at N1.15 per share.

Africa Prudential Plc added 8.89 per cent to close at N6.20 per share. On the other hand, Linkage Assurance Plc led the price losers’ table, dropping 8.89 per cent to close at 41 kobo per share. ABC Transport Nigeria Plc followed with 8.82 per cent to close at 31 kobo per share while CHI Plc trailed with a loss of 8.11 per cent to close at 34 kobo per share.

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