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NSE-ASI Sheds 0.09% On Consumer Goods Stocks

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The Nigerian Stock Exchange (NSE) All Share Index (ASI) fell by 0.09 per cent on sustained sell pressure at the close of trades yesterday despite the positive investor sentiment in the equities market. In summary, the ASI shed 30.46 absolute points, representing a decline of 0.09 per cent to close at 32,423.57 points. Also, the market capitalisation declined by N11 billion to close at N11.837 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Okomu Oil, Nigerian Breweries, GlaxoSmithKline Consumer Nigeria, Ecobank Transnational Incorporated (ETI) and Dangote Sugar.

Analysts at Afrinvest Limited stated that “although performance was negative, we expect a rebound in today’s trading as sentiment remains positive. We believe investors will hunt for bargains in fundamentally sound stocks that have declined in prior sessions.” Market breadth closed positive, with 19 gainers versus 18 losers. Cutix recorded the highest price gain of 10 per cent, to close at N4.73 per share. Sovereign Trust Insurance followed with a gain of 9.09 per cent to close at 24 kobo, while AG Leventis Nigeria rose by 8.11 per cent to close at 40 kobo per share. Cement Company of Northern Nigeria (CCNN) gained 7.76 per cent to close at N25, while First Aluminum appreciated by 5.41 per cent to close at 39 kobo per share.
On the other hand, Niger Insurance led the losers’ chart by 9.68 per cent, to close at 28 kobo, per share. Neimeth International Pharmaceuticals trailed with a loss of 9.23 per cent to close at 59 kobo, while Royal Exchange dropped by 9.09 per cent to close at 20 kobo, per share.

R T Briscoe Nigeria depreciated by 8.70 per cent to close at 42 kobo, while Union Diagnostic & Clinical Services shed 6.45 per cent to close at 29 kobo, per share. The total volume traded appreciated by 10.61 per cent to 151.35 million shares, worth N1.51 billion, and traded in 2,356 deals. Transactions in the shares of FCMB Groups topped the activity chart with 28.92 million shares valued at N49.89 million. Fidelity Bank followed with 19.1 million shares worth N35.54 million, while Guaranty Trust Bank traded 18.16 million shares valued at N671.84 million. Nascon Allied Industries traded 17.14 million shares valued at N316.33 million, while RT Briscoe transacted 6.55 million shares worth N2.75 million.

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