Bearish trend deflate investment on the stock market
By Providence Obuh
Activities on the Nigerian Stock Exchange has continued at a declining note Wednesday, as equity trading plunge5.21 per cent, meanwhile a turnover of 190.08 million shares valued at N1.74 billion was recorded in 6.058 deals, in contrast to the previous day’s turnover of 200.53 million shares valued at N1.58 million in 6,646 deals.
Banking stocks recorded the most patronage on the sectorial analysis accounting for 60.4 per cent of the market turnover with 114.13 million shares valued at N787.50 million in 3,513 deals.
Access Bank Plc was the most active in the sub-sector trading 17.64 million sharers valued at N136 million in 200 deals, Zenith Bank Plc followed with the exchange of 14.47 million shares valued at N181.18 million in 688 deals and First City Monument Bank Plc recorded 11.59 million shares valued at N67.24 million in 100 deals.
The Conglomerates trailed on the sectorial analmillion in 25 deals, PZ Cussons Nigeria Plc followed with the exchange of 339,404 shares valued at N10.05 million in 42 deals and UAC Nigeria Plc recorded 246,621 shares valued at N8.82 million in 42 deals.
However, the market indicators for measuring the performance indices the market capitalisation and the All share index both dipped by 0.37 per cent each.
In particular, the capitalisation dipped by N20.83 billion to close at N5.579 trillion from N5.600 trillion at which it opened, while the index dropped by 85.02 bases points to close at 22,771.69 points from 22,856.71 points. Julius Berger Nigeria Plc led 23 other stocks on the losers table dropping by N1.50 to close at N52.00 per share, Nigerian Breweries Plc followed with a loss of N1.38 to close at N68.60 per share and Ashaka Cement Plc dipped by N1.20 to close at N22.80 per share.
Other share price losers include: Lafarge Cement WAPCO Plc N0.95, Ecobank Transnational Incorporation Plc N0.72, Dangote Flour Mills Plc N0.69, Eterna Oil and Gas Plc N0.31, RT Briscoe Plc N0.17, Union Bank Nigeria Plc N0.16, Zenith Bank Plc N0.14, among others.
Conoil Plc recorded the most share price gain on the gainers table with a gain of N1.95 to close at N40.95 per share, Cement Company of Northern Nigeria Plc followed with a gain of N0.64, Dangote Sugar Refinery Plc garnered N0.38 to close at N0.38 per share.
Other share price gainers include: Access Bank Plc N0.37, Berger Paint Plc N0.35, International Breweries Plc N0.32, Oando Plc N31, National Salt Company Nigeria Plc N0.25, Vitafoam Plc N0.21, Red Star Express Plc N0.15, among others.
