Capital market indices drop further by 0.25%

Key indicators of the performance of the Nigerian Stock Exchange (NSE) declined for the third consecutive day, dropping by 0.25 per cent on Wednesday as profit taking persisted.

Our correspondent reports that the All-Share Index shed 98.74 points or 0.25 per cent to close at 40,150.55 against 40,249.29 achieved on Tuesday.

In the same vein, the market capitalization, which opened at N14.579 trillion lost N34 billion or 0.25 per cent to close at N14.543 trillion due to price depreciation.

It was reported that UACN recorded the highest loss to lead the laggards’ table with a loss of N1.35 to close at N14.50 per share.

CAP trailed with a loss of N1.15 to close at N38.85, while Flour Mills was down by 95k to close at N32.40 per share.

Nigerian Breweries dropped by 80k to close at N122.20, while Dangote Flour dipped 50k to close at N10.50 per share.

On the other hand, MRS led the gainers’ table during the day, appreciating by N1.45 to close at N31.20 per share.

Ikeja Hotel followed with a gain of 20k to close at N2.24, while Fidson Healthcare garnered 16k to close at N5.90 per share.

Guaranty Trust Bank appreciated by 10k to close at N43.50, while FBN Holdings also added 10k to close at N10.70 per share.

Ikeja Hotel dominated trading activities in volume terms, trading 45.83 million shares worth N102.66 million.

Access Bank followed with 30.38 million shares valued at N330.40 million while Fidson Healthcare traded 27.19 million shares valued N30.724 million.

Zenith International Bank came fourth with a turnover of 20.08 million shares valued at N560.04 million.

In all, investors bought and sold 266.70 million shares worth N4.67 billion traded in 3,721 deals.

This was in contrast with a total of 281.27 million shares valued at N4.09 billion achieved in 4,304 deals on Tuesday.

Market analysts attributed the lull in the market to the exit of foreign investors ahead of the forth coming general elections.

They said that activities of foreign investors affected the market because they were the major players in Nigerian bourse.