NSE LIVE! Equities’ return drops to 40.59% as decline continues

Nigerian equities remained under sell pressure on Tuesday, continuing a downtrend that pared the average year-to-date return to 40.59 per cent. With nearly two decliners to every advancer, quoted equities at the Nigerian Stock Exchange (NSE) lost N62 billion at the end of the five-hour trading on Tuesday.

All major indices at the Exchange showed widespread selling sentiments as investors appeared to be combining profit-taking transactions with fund raising for the Yuletide.

The All Share Index (ASI)-the common value-based index that tracks share prices at the Exchange, indicated average day-on-day decline of -0.46 per cent to close at 37,783.76 points as against its opening index of 37,957.96 points.

Aggregate market value of all quoted equities recorded a corresponding decline of N62 billion to close at N14.446 trillion as against its opening value of N13.508 trillion.

All sectoral indices also closed negative with the exception of the NSE Insurance Index, which appreciated by 0.8 per cent. The NSE Banking Index dropped by 0.7 per cent. The NSE Industrial Goods Index declined by 0.4 per cent while the NSE Consumer Goods Index and NSE Oil & Gas Index dipped by 0.2 per cent each.

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There were 25=6 decliners against 15 advancers. Dangote Cement led the decliners with a loss of N1.50 to close at N228.50. Dangote Sugar Refinery followed with a drop of N1.08 to close at N20.57. Forte Oil dropped by N1.02 to close at N43.48. Ecobank Transnational Incorporated lost 70 kobo to close at N16.80 while Cadbury Nigeria dropped by 50 kobo to close at N13.40 per share.

On the upside, Unilever Nigeria led the advancers with a gain of N1.79 to close at N41.99. Eterna followed with a gain of 16 kobo to close at N4.15. Access Bank rose by 6.0 kobo to close at N10.40 while Livestock Feeds, Continental Reinsurance, Fidelity Bank and United Bank for Africa appreciated by 4.0 kobo to close at 86 kobo, N1.39, N2.28 and N10.20 respectively.

Total turnover stood at 649.63 million shares valued at N5.43 billion in 3,888 deals. Transnational Corporation of Nigeria topped the activities chart with 360.34 million shares valued at N504.63 million. FBN Holdings followed with 63.8 million shares worth N567.02 million while Zenith Bank placed third with 62.51 million shares valued at N1.59 billion.

“Following the extended bearish sentiment, we anticipate a rebound in consequent sessions on account of bargain hunting,” Afrinvest Securities-a Lagos-based dealer at the Exchange, stated.

 

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