NSE market indices drop further 0.09%

The Nigerian Stock Exchange (NSE) market indicators on Tuesday dropped further by 0.09 per cent on sustained profit taking embarked on by some investors.

The market capitalisation, which opened at N18.327 trillion, dipped N17 billion or 0.09 per cent to close at N18.310 trillion.

Also, the All-Share Index lost 30.62 points or 0.09 per cent to close at 35,033.74 compared with 35,064.36 achieved on Monday.

The market downtrend was further driven by losses in medium and large capitalised stocks, amongst which are; Flour Mills, Zenith Bank, Lafarge Africa, Access Bank and Nigerian Aviation Handling Company.

Market breadth remained negative with 14 gainers in contrast with 18 laggards.

The Initiates led the losers’ chart in percentage terms by 8.77 per cent to close at 52k per share.

Regency Alliance followed with 8.33 per cent to close at 22k, while Wapic Insurance shed 4.76 per cent to close at 40k per share.

Chams depreciated by 4.55 per cent to close at 21k, while Flour Mills declined by 4.53 per cent to close at N25.30 per share.

Conversely, FTN Cocoa Processors led the gainers’ chart in percentage terms with 9.68 per cent to close at 34k per share.

Royal Exchange followed with 9.52 per cent to close at 23k, while Mutual Benefits Assurance rose by 9.09 per cent to close at 24k per share.

Ecobank Transnational Incorporated rose by 8.33 per cent to close at N5.85, while Lasaco Assurance appreciated by 6.45 per cent to close at 33k per share.

Transactions in the shares of United Bank for Africa topped the activity chart with 142.44 million shares valued at N1.20 billion.

Zenith Bank trailed with 33.86 million shares worth N795.52 million, while FBN Holdings traded 12.63 million shares valued at N89.44 million.

Guaranty Trust Bank sold 9.73 million shares worth N321.88 million, while ETI transacted 9.16 million shares worth N52.36 million.

In all, the volume of shares traded decreased by 5.36 per cent as investors bought and sold 306.92 million shares valued at N3.27 billion in 4,500 deals.

This was against a turnover of 324.32 million shares worth N3.19 billion exchanged in 4,105 deals on Monday.