Trading ground of NSE, Lagos
The bears continued to keep up domice on the equities sector of the Nigerian Stock Exchange (NSE), as main extremely capitalised shares suffered value depreciation, inflicting traders’ wealth to dip by N186 billion in three trading days.
Specifically, the market capitalization depreciated by N186 billion or 1.3 per cent to N13.820 trillion from N14.006 trillion at which it opened for trading on Tuesday. Also, the All-share index dipped by 511.55 factors, from 38,664.15 to 38,152.60 factors.
Yesterday, the downturn was impacted by losses recorded in medium and enormous capitalised shares, amongst that are; Seplat Petroleum Development Company, Dangote Cement, Cement Company of Northern Nigeria (CCNN), PZ Industries and Guaranty Trust Bank.
Analysts at APT Securities and Funds Limited mentioned: “Amidst optimism, the equities market rolled against expectation as market activities inclined further on sell offs. We expect the market to close negative week on week.”
Market breadth closed adverse, with 24 gainers versus 26 losers. Japaul Oil recorded the best value acquire of 9.30 per cent, to shut at 47 kobo per share. Custodian and Allied Insurance gained four.99 per cent to shut at N5.26, whereas AXA Mansard Insurance appreciated by four.91 per cent to shut at N2.78 per share.
NEM Insurance appreciated by four.69 per cent to shut at N2.90, whereas Fidelity Bank gained four.59 per cent to shut at N2.28 per share.On the opposite hand, Honeywell Flour and Nigerian Aviation Handling Company (NAHCO) led the losers’ chart by 5 per cent every, to shut at N2.28 and N3.99 per share, respectively, whereas CCNN adopted with a lack of four.76 per cent to shut at N24 per share.
Seplat depreciated by four.49 per cent to shut at N685, whereas Jaiz Bank declined by four.48 per cent to shut at 64 kobo per share.The whole quantity traded marginally went up by 1.36 per cent to 271.four million shares, price N4.101 billion, and traded in three,766 offers.
Transactions in the shares of FBN Holdings topped the exercise chart with 37.three million shares valued at N394.88 million. Fidelity Bank adopted with 29.52 million shares price N66.44 million, whereas Guaranty Trust Bank traded 28.43 million shares valued at N1.15 billion.Sterling Bank traded 18.1 million shares valued at N24.59 million, whereas Prestige Assurance transacted 16.99 million shares price N11.21 million.