The equities segment of the Nigerian Stock Exchange closed on a negative note on Thursday with the market capitalisation declining by N6bn or 0.06 per cent to close at N10.353tn.
Also, the NSE All-Share Index fell by 17.86 points or 0.06 per cent from 30,141.06 points to 30,123.20 points. Its year-to-date return now stands at -13.08 per cent.
Thursdays losses means that investors have now lost N377bn in the last five trading sessions with market capitalisation falling from N 10.729tn to N10.353tn.
A review of other market indicators showed that the NSE Premium Board declined by 0.17 per cent to 1,607.45 points, while the NSE 30 Index, which tracks the performance of the top 30 companies on the Exchange, was down by 0.06 per cent to close at 1,367.00 points.
The NSE Main-Board Index was little-changed, closing at 1,434.96 points after opening at 1,434.97 points, while the NSE Alternative Securities Market Index was unchanged at 1,205.90 points.
Investors exchanged 219.553 million shares, valued at N1.912bn, in 3,126 deals with 18 stocks appreciating in value and 23 others depreciating.
Trans-nationwide Express Plc topped the gainers’ table, rising by 9.18 per cent or nine kobo to close at N1.07 per share; followed by Berger Paints Nigeria Plc, which rose by 4.95 per cent or 49 kobo to close at N10.39 per share.
Okomu Oil Plc was up by 4.22 per cent or N1.16 to close at N28.66 per share, while Evans Medicals Plc and Fidson Healthcare Plc rose by 3.28 per cent and 3.17 per cent to close at 63 kobo and N3.25 per share, respectively.
On the other hand, Ikeja Hotels Plc led the losers, shedding five per cent or 18 kobo to close at N3.42 per share.
It was followed by BOC Gases Nigeria Plc and AXA Mansard Insurance Plc, which gained 4.78 per cent and 4.42 per cent to close at N4.18 and N2.38 per share in that order.
Also, NEM Insurance Plc rose by 4.29 per cent or three kobo to close at 67 kobo per share, while Skye Bank Plc was up by 3.98 per cent or nine kobo to close at N2.17 per share.
Analysts at Vetiva Capital Management Limited had projected ahead of the week that the market would open on a positive note.
“We expect the NSE ASI to bounce back into the green at week open, supported by renewed demand in the “Financial services sector, and in line with consistent positive market breadth,” they had said.
“We expect gains to filter into the next trading session, on the back of robust system liquidity. However noting the possibility of an Open Market Operation auction by the Central Bank of Nigeria, gains may soften if successful.”
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Source : Punch