NSE LIVE! Equities stumble amidst sell pressure

nseThe topsy-turvy situation at the Nigerian stock market again played out on Wednesday as increased sell orders returned the overall benchmark indices to the red zone. Against the modest gain of 0.24 per cent on Tuesday, equities dipped by 0.06 per cent on Wednesday. The market had opened the week negative.

While the gap between the losers and gainers were relatively narrow, substantial losses suffered by highly capitalised oil and gas stocks and fast moving consumer goods companies threw the market into negative.

The All Share Index (ASI)-the value-based common index that tracks prices of all quoted equities on the Nigerian Stock Exchange, stumbled to 24,809.29 points as against its opening index of 24,823.86 points. Aggregate market value of all quoted equities also dropped marginally from N8.539 trillion to close at N8.534 trillion. Average year-to-date return closed at -13.38 per cent.

Sectoral indices showed widespread declines. The NSE Oil & Gas Index declined by 2.1 per cent. The NSE Consumer Goods Index depreciated by 0.02 per cent. The NSE Industrial Goods Index slipped by 0.01 per cent while the NSE Insurance Index dropped by 0.07 per cent. However, the NSE Banking Index appreciated by 0.4 per cent.

Forte Oil led the 22-stock losers’ list with a loss of N12.50 to close at N237.50. Total Nigeria followed with a drop of N6.94 to close at N140.06. GlaxoSmithKline Consumer Goods dropped by N2.42 to close at N22.55. Nigerian Breweries lost 46 kobo to close at N106.07 while UACN Property Development Company dropped by 42 kobo to close at N4.03 per share.

Turnover volume rose by 34.4 per cent with the exchange of 285.34 million shares worth N1.35 billion in 3,083 deals. Banks remained atop activities chart. The three most active stocks were: Access Bank, with 102.27 million shares; FBN Holdings, 83.14 million shares and United Bank for Africa, which recorded turnover of 14.86 million shares.

On the upside, Unilever Nigeria led the 19-stock gainers’ list with a gain of N1.46 to close at N30.71. Okomu Oil Palm followed with a gain of 30 kobo to close at N29.50. Transcorp Hotels added 22 kobo to close at N4.81. Oando gathered 20 kobo to close at N4.75 while FBN Holdings rose by 18 kobo to close at N3.57 per share.

 

 

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