Business

NSE records N91bn loss

Trading activities on the floor of the Nigerian Stock Exchange yesterday closed on the negative route to upturn previous day’s gain as bears regained grip following sell-off witnessed on blue chip firms.

The local bourse recorded 19 gainers against 28 losers to close the trading session on the negative route. Consequently, the All-Share Index dipped 174.36 basis points or 0.50 per cent to close at 34,643.65 index points as against 34.818.01 recorded the previous trading session while market capitalisation of equities depreciated by N91 billion from N18.193 trillion the previous day to N18.102 trillion as market sentiment returned on the negative territory.

Meanwhile, a turnover of 364.92 million shares exchanged in 6,340 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 118.93 million shares exchanged by investors in 2,155 deals. Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and Access Bank Plc. Also, the banking sub-sector boosted by activities in shares of Sterling Bank Plc and Fidelity Bank Plc followed with a turnover of 63.67 million shares in 1,063 deals.

Further analysis of the day’s trading showed that in percentage terms, BOC Gases Plc topped the day’s gainers’ table with 9.90 per cent to close at N6.77 per share while Eterna Oil Plc followed with 9.89 per cent to close at N4.78 per share. Red Star Express Plc added 9.79 per cent to close at 5N3.59 per share. On the flip side, Presco Oil Plc led the losers by 9.97 per cent to close at N71.80 per share while FCMB Plc shed 9.85 per cent to close at N3.02 per share. Linkage Assurance Plc trailed with 9.09 per cent to close at 50 kobo per cent.

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