Equities at Nigeria stock exchange extends decline by N43bn

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All-Share Index dipped 89.08 basis points or 0.32 per cent to close at 27,602.77 index points

Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears sustained their grip on the local bourse.

This followed the sell-off that pervaded the stock market as speculators continue to take profit from the gains recorded recently.

The local bourse recorded 13 gainers against 23 losers. Consequently, the All-Share Index dipped 89.08 basis points or 0.32 per cent to close at 27,602.77 index points as against 27.691.85 recorded the previous day, while market capitalisation of equities depreciated by N43 billion from N13.471 trillion the previous day to N13.4284 trillion as market sentiments remained on the negative territory.

Meanwhile, a turnover of183.6 million shares exchanged in 3,558 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 79.9 million shares exchanged by investors in 1,366 deals.

Volume in the sub-sector was largely driven by activities in the shares of Access Bank Plc and MTN Nigeria Plc.

Also, the banking sub-sector boosted by activities in the shares of GTB Plc and Sterling Bank Plc followed with a turnover of 41.3 million shares in 624 deals.

Further analysis of the day’s trading showed that in percentage terms, PZ Cussons Plc topped the gainers’ table with 5.93 per cent to close at N6.25 per share while Courtiville Business Solutions Plc followed with five per cent to close at 21 kobo per share. CCNN Plc added 3.57 per cent to close at N14.50 per share.

On the flip side, Seplat Petroleum Plc led the losers with a drop of 9.82 per cent to close at N397.70 per share while Neimeth Pharmaceuticals Plc shed 9.62 per cent to close at 47 kobo per share. NPF MFB Plc trailed with 9.52 per cent to close at N1.14 per share.

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