Business

NSE records midweek decline

…loses N2billion

Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears tightened further their grip on the local bourse following sell-off in stock market. Also, the local bourse sustained negative breadth, recording 17 gainers against 19 losers. The All-Share Index dipped 47.65 basis points or 0.18 per cent to close at 25,550.31 index points as against 25.597.96 recorded the previous day while market capitalisation of equities depreciated by N2 billion from N13.352 trillion the previous day to N13.597.96 trillion as market sentiment remained on the negative territory. Meanwhile, a turnover of 211.82 million shares exchanged in 3,651 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 88.83 million shares exchanged by investors in 1,508 deals. Volume in the sub-sector was largely driven by activities in shares of Access Bank Plc and UBA Plc. Also, the other financial services sub-sector boosted by activities in shares of FCMB Plc and United Capital Plc followed with a turnover of 211.82 million shares in 3,651 deals. Further analysis of the day’s trading showed that in percentage terms Lafarge Africa Plc topped the day’s gainers’ table with 9.62 per cent to close at N1.14 per share while Berger Paints Plc followed with 7.44 per cent to close at N6.50 per share. UBN Plc added 7.00 per cent to close at N5.35 per share.

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