NSEs All-share index plummets further by 0.2 per cent

Continued share price depreciation on the equity sector of the Nigerian Stock Exchange (NSE), yesterday pulled the All-share index further down by 0.2 per cent.

Yesterday, the All-share index, which measures the performance of quoted companies, depreciated further by 62.19 points or 0.2 per cent to close at 40.615.42 from 40,677.61 achieved on Monday.

Similarly, the market capitalisation of listed stocks, dipped by N23billion from N14.734trillion to N14.712trillion.

Analysts at Afrinvest Limited, said: “despite yesterday’s bearish performance, we maintain our bullish outlook for the market hinged on the existence of bargain hunting opportunities in large and mid-cap stocks.”

The Chief Research Officer at Investdata Consulting Limited, Ambrose Omodion said: “We expect a mixed performance as actual numbers and the upbeat economic data continue to guide investors as they reposition their portfolios in the midst of low valuations in medium and high cap stocks.”

On the price movement chart, Zenith Bank topped the losers’ chart with N1.15 kobo to close at N27.60 per share, while FBN Holdings followed with N11.50 kobo to close at N0.50 per share. Oando shed N7.40 kobo to close at N0.35 per share.

Guaranty Trust Bank lost N0.30 kobo to close at N44.00 per share. Dangote Flour depreciated by N0.25 kobo to close at N11.25 per share.

Nestle emerged the day’s highest price gainer with N4.30 kobo to close at N1,573 per share, while Nigerian Breweries followed with N2.80 kobo to close at N124.80 per share. CAP added N1.10 kobo to close at N40.00 per share.

Ecobank Transnational Incorporated garnered N0.30 kobo to close at N21.00 per share. NPF Micro finance Bank also gained N0.07 kobo to close at N1.85 per share.

On the activity chart, transactions in the shares of Guaranty Trust Bank topped the chart with 37.15 million shares valued at N1.64billion. UBA followed with 31.46 million shares worth N361.1million, while Fidelity Bank traded 14.5 million shares valued at N33.8million.

Zenith Bank traded 11.73 million shares valued at N330.46million, while Oando transacted 11.1 million shares worth N84.73million.