Trading activities at the Nigerian Stock Exchange (NSE) slid again yesterday by 0.41 per cent, following huge losses recorded by most blue chip stocks in the day’s transactions.
The development saw a halt to the gains witnessed in the market on Tuesday, as 16 companies emerged on the gainers’ table as against 28 that had their market values depreciated at the end of the day’s activity.
Analysts attributed the fall in the total value of the entire listed shares to return of massive off-loading by investors who are taking advantage of the persistent appreciation of stock prices.
Specifically, the All-Share Index dipped by 84.9 points to lower 20,790.87 basis points from the previous 20,875.83, while Market Capitalisation fell by N27 billion to close at N6.552 trillion from N5.579 trillion at which it opened.
Transcorp Plc topped the losers’ pack, dropping by 5.00 per cent to close at N0.57 per share, followed by Oando Plc with 4.95 per cent decrease to close at N17.08 per share.
Vitaform ranked third with 4.92 per cent to close at N3.48 per share; AG Leventis Plc also fell by 4.76 per cent to close at N1.40 per share, while DN Meyer that was the last on top five losers’ chart lost by 4.67 per cent to close at N1.02 per share.
On the other hand, Japaul Oil Plc led the gainers’ table with 4.94 per cent to close at N0.85 per share. First Bank of Nigeria Plc followed, gaining by 4.92 per cent to close at N10.44 per share, and International Breweries Plc garnered 4.87 per cent to close at N5.60 per share. NAHCO added 4.55 per cent to close at N7.59, while Access Bank gained 4.37 per cent to close at N5.25 per share.
The banking sub-sector dominated activities on the sub-sectorial level, accounting for 130.5 million shares worth N664.7 million exchanged in 1,748 deals. The Industrial Goods sub-sector ranked second, netting 13.9 million shares valued at N63.5 million done in 130 deals.