The Nigerian Stock Exchange (NSE) equities market segment continued negative as the market losses persist for the second consecutive trading day of the week.
The NSE All Share Index (ASI) depreciated by 0.64per cent on the back of profit-taking in Forte Oil Plc (-2.8 per cent), Nigeria Breweries Plc (-4.1per cent), Guinness Nigeria Plc (-3.7per cent), Seplat (-2.2per cent) and Flourmills (-4.1per cent) to decline market activity for the day.
The NSE ASI close today at 28,981.12 basis points .
Similarly, market capitalization declined N7.02 billion to close at N64.25 trillion, while market activity as measured by value and volume closed N1.80 billion and 317.25 million respectively.
At the close of trading, performance across sectors was mixed as most of the sector index went southwards to close negative save for the Insurance and Industrial Goods Index.
The Industrial Goods Index closed positive at the close of trading to lead the gainers list as bargain hunting resurface in Dangote Cement (0.62per cent) to moderate the index at the close of trade by 0.38per cent.
Followed by the Insurance Index, which closed positive as investors optimism persist for the second consecutive day in AIICO (1.11per cent) and NEM (1.45per cent) to close the index positive by 0.13per cent.
On the flip side, the Oil and Gas Index receded from yesterday’s price appreciation to close the day negative to lead the losers list as profit taking persist in Forte Oil Plc (2.8per cent), Seplat (2.2per cent) and Oando Plc (0.2per cent) to decline the index at the close of trade by 1.83per cent.
Followed by the consumer goods index, the index declined further at the close of trading consequent on loses in the industry heavy weights; Nigeria Breweries Plc (4.1per cent), Guniess Nigeria (3.7per cent) and Flourmills (4.1per cent) to close the index negative by 1.36per cent.
In the same vein, the Banking Index closed negative as sell off persist in Stanbic IBTC(4.2per cent), Zenith Bank (four per cent) and ETI (0.8per cent) to decline the index performance by 1.15per cent.
Top gainers were Unilever Plc that gained 10.2 per cent followed by Skye Bank Plc and Eterna Plc that appreciated by. 4.7 per cent respectively.
Honeywell Flour Mills rose by 4.6 per cent while Wema Bank Plc also appreciated by 4.2 per cent.
Top losers were Caverton that dropped by 4.9 per cent , Neimeth dropped by 4.9 per cent while Nahco lost 4.9 per cent.
Diamond from the banking sector dropped by 4.8 per cent after today’s closing of the market.