Nigerian Equities index sheds 0.95% on Profit Taking

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The Nigerian Equities market on Wednesday continued on a downward movement as lead key indicator the NSE All-Share Index depreciated 0.95 percent to close at 28,009.40 basis points from 0.20 percent lost in previous session when the ASI closed at 28,277.93 basis points. The year to date returns thus waned by 2.22 percent.

Consequently, investors on the Nigerian equities market lost N92.2 billion as market capitalization closed at N9.620 trillion compared to N20.5 billion lost on Tuesday when market capitalization closed at N9.712 trillion.

L- R: Ade Ewuosho, Head, Market Services Department, The Nigerian Stock Exchange (NSE); Bola Adeeko, Head, Corporate Services Division , NSE; Oscar N. Onyema, Chief Executive Officer, NSE; Paul Thomas Arkwright, British High Commissioner to Nigeria; Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE and Yetunde Ojo, Head, Technology, NSE at the Closing Gong Ceremony at the Exchange on October 5, 2016.
L- R: Ade Ewuosho, Head, Market Services Department, The Nigerian Stock Exchange (NSE); Bola Adeeko, Head, Corporate Services Division , NSE; Oscar N. Onyema, Chief Executive Officer, NSE; Paul Thomas Arkwright, British High Commissioner to Nigeria; Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE and Yetunde Ojo, Head, Technology, NSE at the Closing Gong Ceremony at the Exchange on October 5, 2016.

Investor sentiment remained negative as market breadth closed with 20 gainers to 22 losers. PZ Cussons Plc led the list of declining stocks as it fell by 9.71 percent or N2.01 to close at N18.69 per share, Caverton Offshore Support Group Plc followed with a decline of 8.57 percent or 6 kobo to close at 64 kobo per share.

Flourmills Nigeria Plc dropped by 4.98 percent or N1.05 to close at N20.05 per share, while Nigerian Aviation Handling Company Plc decreased by 4.91 percent or 17 kobo to close at N3.29 per share and Dangote Flour Plc recorded a depreciation of 4.91 percent or 17 kobo to close at N3.29 per share.

On the other hand FCMB Plc led the day’s gainers with an appreciation of 6.31 percent or 7 kobo to close at N1.18 per share. This was followed by Okomuoil Plc and Diamond Bank Plc that added 5 percent each or N1.90 and 6 kobo respectively to close at N39.90 and N1.26 per share respectively. Transcorp Hotel Plc grew by 4.97 percent or 25 kobo to close at N5.28 per share, as 7up Plc improved by 4.89 percent or N6.80 to close at N145.80 per share.

Market activity as measured by Volume and Value traded, settled at 187.2 million units and N1.5 billion respectively compared to 198.1 million units and N1.317 billion traded previously.

Trading in the Top Three equities were Access Bank Plc with the sale of 30 million shares worth N164.5 million. FCMB Plc came second following the sale of 26.6 million units of shares worth N30.8 million and Zenith Bank Plc sold 20.9 million units valued at N316.4 million.

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