Market index dips by 0.37%

Trading on the floor of the Nigerian Stock Exchange (NSE) closed on a negative note for the sixth straight session on Wednesday, with major market indicators declining further.

The All-Share Index fell by 0.37 per cent to close at 37,136.60 points, from 37,274.04 the previous day, while the market capitalisation of the listed equities dropped by N44bn or 0.37 per cent from N11.973tn to N11.929tn.

The banking subsector led the activity chart, accounting for 69.35 per cent of total turnover traded.

In the subsector, a total of 176.257 million stocks, valued at N2.404bn, were traded in 1,690 deals.

Volume in the subsector was driven by trading in the shares of Zenith Bank Plc, Diamond Bank Plc, Guaranty Trust Bank Plc and Fidelity Bank Plc.

Investors spent N3.642bn on 254.148 million shares in 4,270 deals on Wednesday as against the 286.793 million shares worth N4.542bn traded the previous day in 4,798 deals.

While 14 stocks recorded price appreciation, more than double the figure, 41 stocks, recorded price depreciation.

Oasis Insurance Plc was the top price gainer for the day. It gained 3.70 per cent or two kobo to close at 56 kobo per share.

Mobil Nigeria Plc and 7UP Bottling Company Plc rose by 3.42 per cent and 3.40 per cent to close at N121 and N91 per share, respectively.

Wema Bank Plc and AIICO Insurance Plc were also up; rising by 3.19 per cent and 2.53 per cent to close at 97 kobo and 81 kobo per share in that order.

On the losers’ table, Africa Prudential Registrars, which fell by 9.28 per cent or 27 kobo to close at N2.64, claimed the top spot.

It was followed by Fidson Healthcare Plc and Presco Plc, which were down by five per cent each to close at N2.85 and N38.95 per share, respectively.

National Salt Company of Nigeria Plc shed 4.97 per cent or 59 kobo to close at N11.28 per share, while Eterna Plc was down by 4.94 per cent or 19 kobo to close at N3.66 per share.

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