Activities on the floor of the Nigerian Stock Market yesterday continued on the downward swing as most capitalised stocks recorded price depreciations resulting to a decrease in market capitalisation by N28 billion.
At the close of transactions yesterday, the All-share index shed by 88.59 basis points or 0.3 per cent from N25,830.53 recorded on Monday to N25,741.94 while market capitalisation dropped by N28 billion or 0.3 per cent from N8,258 trillion to N8,230 trillion.
Further analysis of yesterday’s transactions showed that the banking sector buoyed by the activities in shares of Access Bank and First Bank maintained its dominance in terms of volume with 102.9 million shares worth N792.2 million 2,799 deals.
Insurance sub-sector activated by the activities in the shares Custodian and Allied Insurance followed with a turnover of 71.3 million shares worth N94.9 million in 235 deals while Other Financial Institutions sub-sector fuelled by the activities in the shares of Crusader Group ranked third with a turnover of 48.07 million shares valued at N24.03 million in 41 deals.
On the price movement chart, 24 stocks appreciated in price, led by CAP with 4.98 per cent to close at N30.96. CAP also led on the gainers chart. Berger Paint followed with 4.95 per cent to close at N11.67 per share while GSK added 4.61 per cent to close at N28.35.
On the other hand, 25 stocks depreciated in price, as Bank PHB topped the day’s highest price loser with 4.95 per cent to close at 96 kobo. Ecobank followed with 4.87 per cent to close at N3.71 while Eternaoil shed 4.85 per cent to close at N4.61
On the whole, investors exchanged 271.3 million shares worth N2.2 billion in 5,163 deals.