NSE: Market index declines by 0.61%

Equities listed on the Nigerian Stock Exchange (NSE) ended a four-day rally on Thursday as the major market indicators declined for the first time this week.

At the close of trading, the NSE All-Share Index fell by 0.61 per cent or 257.96 basis points to close at 41,729.59 basis points, from Wednesday’s close of 41,987.55 basis points.

Also, the market capitalisation of the listed equities declined by 0.61 per cent or N85bn to close at N13.779tn in contrast to the N82bn appreciation that lifted it to N13.864tn in the previous session.

The diversified industry subsector of the conglomerates sector led the activity chart in terms of volume turnover. It accounted for 22 per cent of turnover traded.

In the subsector, 90.041 million shares valued at N450m were traded in 754 deals.

Transnational Corporation of Nigeria Plc drove volume in the subsector as 89.503 million of its shares worth N427.4m were traded in 683 deals.

A total of 411.480 million equities valued at N3.421bn were exchange by investors in 6,040 deals on Thursday with 21 stocks recording price appreciation and 35 others recording price depreciation.

ABC Transport Company Plc topped the gainers’ table, rising by 6.9 per cent or six kobo to close at 93 kobo per share; followed by Guinness Nigeria Plc, which gained five per cent or N9.01 to close at N189.21 per share.

Costain (West Africa) Plc and Portland Paints and Products Nigeria Plc appreciated by 4.84 per cent and 4.26 per cent to close at N1.30 and N4.90 per share, respectively, while Royal Express Plc and Courteville Business Solutions Plc were up by 3.77 per cent and 3.51 per cent to close at 55 kobo and 59 kobo per share in that order.

However, Forte Oil Plc led the losers, shedding 9.75 per cent or N24.37 to close at N225.64 per share.

Oando Plc fell by 9.71 or N2.95 to close at N27.43 per share, while Transnational Corporation of Nigeria fell by 9.56 per cent or 50 kobo to close at N4.73 per share.

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