NSE Index Plunges Further, Down 0.09%
By UMORU ABDULKADIR
Transactions on the floor of the Nigerian Equities Market closed on a negative note again, sustaining the bearish outlook of the market.
Consequently, the All-Share index dipped 24.25 basis points or 0.09 per cent to close at 26,365.83 points as against 26,390.08 points recorded on Monday.
Similarly, the market capitalization shed N12 billion to finish at N12.835 trillion lower than N12.847 trillion attained the previous trading day.
Today’s downturn was impacted by losses recorded in the shares of Nigeria’s most capitalised listed companies, Dangote Cement Plc, telecoms giant, MTN Nigeria Plc and the Consumer Goods sector.
Market breadth index was negative with 13 losers compared with 12 gainers as year-to-date returns worsened at -16.11 per cent.
A breakdown of the price movement chart showed that Eterna Oil Plc with 9.52 percent loss led the loser’s chart, while Courteville Business Solutions Plc emerged the best performing stock when it achieved 10.00 percent gain at the close of trading today.
Zenith Bank emerged the most active stock for the day, exchanging 357.2 million units of shares worth a N6.18 billion. It was followed by Omoluabi Bank with a turnover of 174.3 million units of share valued at N95.8 million. Fidelity Bank sold 31.8 million units of shares worth N53.9 million. While MayBaker traded 28 million units valued at N56 million, Guaranty Trust Bank sold 25.3 million shares worth N666.3 million.
In terms of sector performance, the Consumer Goods index declined by 0.03 percent, following the losses in the shares of food and beverage producer, Cadbury Nigeria Plc which depreciated by 2.54 percent.
Meanwhile, the NSE Industrial index rose by 0.19 percent, as a result of the gain recorded in the shares of Cutix Plc which advanced by 9.92 percent.
The NSE Banking index closed up by 0.09 percent, on the back of the buy interest in Stanbic IBTC and Access Bank Plc shares that advanced 2.07 percent and 0.68 percent respectively, while Zenith Bank hitched up 0.29 percent while the NSE Oil & Gas index closed flat.
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