Sell pressure dominates market activities


Activities on the floor of Nigerian Stock Exchange (NSE) yesterday returned downward following sell-off that pervaded the equities market that has dropped by 0.19 per cent.

The decline was impacted by negative sentiments on blue chip stocks.

Consequently, the All-Share Index shed 136.68 basis points or 0.19 per cent to close at 28,088.74 index points as against 28,144.87 recorded the previous day while market capitalisation of equities depreciated by N27 billion to close lower at N13.689 trillion from N13.716 trillion as market sentiments remained on the red territory.

Meanwhile, a turnover of 157.7 million shares in 3,253 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 66.4 million shares exchanged by investors in 1,227 deals.

The banking sub-sector, boosted by activities in the shares of Sterling Bank Plc  and GTB Plc, followed with a turnover of 50.7 million shares in 400 deals.

The number of gainers at the close of trading session was 16 while decliners closed at 16.

Further analysis of the day’s trading showed that Japaul Oil Plc topped the gainers’ table with 10 per cent to close at 22 kobo per share while BOC Gases Plc followed with 9.98 per cent to close at N5.07 per share. C and I Leasing Plc trailed with a gain of 9.89 per cent to close at N5.00 per share.

On the flip side, Unity Bank Plc led the losers’ chart with a drop of 9.38 per cent to close at 58 kobo per share. Prestige Assurance Plc followed with a loss of 6.25 per cent to close at 45 kobo per share respectively. Sovereign Trust Insurance Plc trailed with 4.76 per cent to close at 20 kobo per share.


Related posts

Leave a Comment