Market trading declines 0.10% as Portpaint, Forte Oil, Union Homes shed weight

Trading on the Nigerian Stock Market yesterday continued on a negative note as lead indicators further depreciated by 0.10 per cent against 0.26 per cent fall recorded on Tuesday.

Specifically, the All Share Index and Market Capitalization dropped 26.11 points and N8.98 billion lower from their previous figures to close at 27,287.89 points and N9.382 trillion respectively compared to 27, 314 points and N9.391 trillion recorded a day before.

The market breadth closed negative with 27 losers against 18 gainers.

Portland Paint Plc topped the losers chart with a decline of 9.52 per cent or 40 kobo to close at N3.80 per share.

It was trailed by Forte Oil Plc which depreciated by 5.00 per cent or N13.08 to close at N248.65 per share, while UACN Plc dropped 4.97 per cent or N1.34 to N25.61 per share.

Union Homes Plc likewise lost 4.97 per cent or 26 kobo to close at N4.97 per share and Oando Plc fell 4.68 per cent or 28 kobo to close at N5.70 per share.

On the other hand, Unilever Plc led 18 gainers with a 10.23 per cent or N4.08 appreciation to close at N43.98 per share.

It was followed by Mcnichols Plc which added 5.00 per cent or 6 kobo to close at N1.26 per share, while National Aviation handling Company Plc gained 4.95 per cent or 18 kobo to close at N3.82 per share.

Airline Service and Logistics Plc appreciated by 4.40 per cent or 8 kobo to close at N1.90 per share while Wema Bank Plc increased by 3.26 per cent or 3 kobo to close at 95 kobo per share.

In all, investors traded 383.4 million shares valued at N5.3 billion exchanged in 2,857 deals.