The nation’s equities market closed southward as the Nigerian Stock Exchange NSE All Share index declined marginally by 0.02 per cent due to sell-offs recorded in high capitalised stocks.
The NSE ASI decreased by 3.86 basis points, representing a dip of 0.02 per cent to close at 24,750.06 points against 24753.92 traded the previous day. Similarly, the overall market capitalisation size shed N2 billion to close at N12.911 trillion against N12.913 trillion reported on Monday
The down ward trend was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Sugar Refinery, Nigerian Breweries, PZ Cussons Nigeria, Ecobank Transnational Incorporated (ETI) and Lafarge Africa
Analysts at Afrinvest Limited said that “We continue to see sell pressures dominate the market as investor sentiment remains weak. Nonetheless, we maintain our mixed performance outlook for the week.”
The market breadth closed negative, recording nine gainers against 23 losers. UACN Property Development Company recorded the highest price gain of 7.69 per cent, to close at 98 kobo, per share. Transnational Corporation of Nigeria (Transcorp) followed with a gain 2.86 per cent to close at 72 kobo, while Oando appreciated by 2.04 per cent to close at N2.50, per share.
MTN Nigeria Communication (MTNN) went up by 1.64 per cent to close at N118.00, while Flour Mills of Nigeria rose by 1.52 per cent to close at N20.00, per share. On the other hand, Unity Bank led the losers’ chart by 10 per cent, to close at 54 kobo, per share. Dangote Sugar Refinery followed with a decline of 9.85 per cent to close at N11.90 kobo, while Ikeja Hotel shed 9.57 per cent to close at N1.04 kobo, per share.
Neimeth International Pharmaceuticals went down by 9.35 per cent to close at N1.26 kobo, while Chams Plc shed 8.70 per cent to close at N0.21 kobo, per share.
