NSE index plunges further by 0.25%

NEGATIVE sentiments persisted on the equity sector of the Nigerian Stock Exchange ( NSE) yesterday, as the All- Share Index ( ASI) depreciated further by 0.25 per cent.

At the close of transactions, ASI shed 87.88 absolute points, representing a decline of 0.25 per cent, to close at 34,968.94 points, while the market capitalisation value also declined by N46 billion to close at N18.277 trillion.

The downtrend was driven by price depreciation in medium and large capi - talised stocks – Guaranty

Trust Bank, Flour Mills of Nigeria, Cadbury Nigeria, United Bank for Africa ( UBA) and Zenith Bank.

Market sentiment, as measured by market breadth, was negative as 25 stocks declined relative to 13 gainers. Mutual Benefits Assurance recorded the highest price gain of 9.52 per cent to close at 23 kobo.

Royal Exchange followed with a gain of 9.09 per cent to close at 24 kobo while FTN Cocoa Processors rose by eight per cent to close at 27 kobo.

Ardova Plc went up by 7.69 per cent to close at N14.00 while Cutix appreciated by 5.56 per cent to close at N1.90 kobo.

On the other hand, Unity Bank led the losers’ chart by 9.86 per cent to close at 64 kobo. Chams followed with a decline of eight per cent to close at 23 kobo while Nigerian Aviation Handling Company ( NAHCO) declined by 6.81 per cent to close at N2.19 kobo.

Consolidated Hallmark Insurance lost 6.67 per cent to close at 28 kobo just as Ecobank Transnational Incorporated ( ETI) shed 6.35 per cent to close at N5.90 kobo.

The total volume of trades decreased by 21.5 per cent to 289.394 million units, valued at N7.348 billion and exchanged in 4,878 deals.

Transactions in the shares of UBA topped the activity chart with 34.452 million shares valued at N283.444 million. Zenith Bank followed with 31.201 million shares worth N743.575 million while MTN Nigeria Communications traded 27.412 million shares valued at N4.379 billion.

Access Bank traded 22.958 million shares valued at N196.039 million while Mutual Benefits Assurance transacted 22.490 million shares worth N5.063 million.