Selling pressure has continued to outweigh bargain hunting on the equities segment of the Nigerian Stock Market (NSE) causing market indicators to close lower, yesterday.
The market capitalisation went down by N26 billion to close at N10.424 trillion when compared with the N10.450 trillion posted on Monday. Similarly, the All-Share Index declined by 75.30 points or 0.25 per cent to close at 30,330.58 as against the 30,405.88 achieved on Monday.
Market breadth was negative as 19 gainers and 22 losers were recorded. Analysis of the price movement chart indicated that Seplat led the losers’ chart by N24.36 to close at N225.54 per share. Mobil trailed with a loss of N3.43 to close at N145.07, while Dangote Cement dipped by N1.51 to close at N166.50 per share.
Cadbury dropped by N1.10 to close at N22.90, while Guinness lost 76 kobo to close at N149.99 per share.
On the other hand, Forte Oil topped the gainers’ table by N3.20 to close at N263 per share. Nigerian Breweries came second on the activity chart with N1.34 to close at N141, while Unilever appreciated by 43 kobo to close at N46.50 per share.
Flourmil gained 28 kobo to close at N22.68 and Nascon appreciated by 25 kobo to close at N7 per share.
Volume of shares transacted decreased by 28.44 per cent to 300.52 million valued at N3.04 billion in 3,112 deals.
Financial services sector retains control as the most active sector with Access Bank topping in volume transacted of 83.35 million valued at N443.46 million. Wapic Insurance followed with a total of 64.38 million shares valued N32.19 million, while Zenith Bank exchanged 29.57 million shares worth N492.36 million.
Source : Leadership