NSE’s indices sustain sliding profile, down by N1b

Equities transactions on the Nigerian Stock Exchange sustained sliding profile yesterday, as more blue chip companies recorded price depreciation, resulting to a further slide in market capitalisation by N1 billion.

Yesterday, market capitalisation dropped marginally by 0.01 per cent to close at N9.265 trillion compared with N9.266 trillion recorded on Tuesday.

Also, the All-Share Index which opened at 26,950.76 lost 2.33 points or 0.01 per cent to close at 26,948.43.

Investors exchanged 196.51 million shares valued N2.01 billion in 2,781 deals, down from 189.32 million shares worth N3.16 billion traded in 3,265 deals.

Sterling Bank emerged the most traded stock in volume terms with 55.09 million shares valued N100.27 million. Tiger Brands Consumer Good followed with 23.15 million shares worth N26.46 million, while Access Bank exchanged 23.071 million shares valued N106.31 million.

FCMB Group sold 16.35 million shares worth N28.16 million, while Diamond Bank sold 11.59 million shares valued N26.35 million.

Further analysis of yesterday’s transactions showed that Seplat emerged the day’s highest price loser with N3.51 to close at N203 per share. Dangote Cement trailed with a loss of N2.85 to close at N156.10, while UACN depreciated by N1.11 to close at N21.50 per share.

Cadbury Nigeria Plc shed N1 to close at N19 and Okomu Oil also dropped by N1 to close at N27 per share. Consequently, the market indices recorded marginal depreciation, dropping by 0.01 per cent due to price loses.

On the other hand, Nigerian Breweries led the gainers’ table, adding N3.92 to close at N121.02 per share. PZ followed with a gain of N2.71 to close at N29.29, while Ashaka Cement gained N2.30 to close at N24.79 per share.

Guinness grew by N1 to close at N123 and GT Bank appreciated by 49k to close at N19.58 per share.