Dipo Olowookere
By Dipo Olowookere
Despite a significant increase in the volume and value of equities transacted on the floor of the Nigerian Stock Exchange (NSE) on Wednesday, the market still finished in the red zone as weak investors’ appetite continues.
The local bourse ended yesterday 1.08 percent lower, shrinking the Year-to-Date (YtD) gain further to 0.95 percent.
The benchmark index dropped to the 38,000 mark yesterday from the 39,000 zone with fears that it might touched the 37,000 market next month.
After losing 422.1 points on Wednesday, the All-Share Index (ASI) settled at 38,606.41 points, while the market capitalisation reduced by N153 billion to end at N13.984 trillion.
Business Post reports that the volume of stocks traded after the Tuesday’s Democracy Day holiday increased by 53.86 percent, while the value went up by 188.46 percent.
At the close of transactions yesterday, a total of 342.1 million shares exchanged hands in 5,057 deals worth N4.7 billion compared with the 222.3 million equities sold on Monday valued at N1.6 billion.
These trades were dominated by the Financial Services sector, which exchanged 253.4 million shares for N3.2 billion, and the Conglomerates industry, which traded 43.6 million equities valued at N71 million.
Access bank emerged the most traded individual stock, selling a total of 68.3 million units worth N743.9 million.
It was followed by Transcorp, which sold 42.1 million shares valued at N51.5 million, and Zenith Bank, which traded 35.7 million units worth N929.6 million.
GTBank exchanged 24.6 million equities for N1 billion, while UBA transacted 20.9 million shares for N220 million.
The market breadth finished negative yesterday with 23 price gainers and 25 price losers led by Nestle Nigeria, which went down by N60 to settle at N1540 per share.
It was followed by Nigerian Breweries, which declined by N5 to close at N110 per share, and International Breweries, which fell by N2.55k to end at N49.25k per share.
Dangote Cement depreciated by N2.50k to finish at N242.50k per share, while Lafarge dropped N1.90k to close at N36.60k per share.
Conversely, Flour Mills of Nigeria led the gainers’ table after adding N1.50k to its share value to finish at N31.60k per share.
Dangote Sugar followed after adding 45k to its share price to close at N17 per share, while Dangote Flour added 40k to its share value to end at N8.95k per share.
FBN Holdings went up by 35k to close at N9.60k per share, while Fidson grew by 29k to finish at N6.24k per share.
