Two-day Gaining Streak interrupted as All-Share Index Decline by 1.55%
Market pulse on the Nigerian Stock Exchange (NSE) today- March 11th 2015, was bearish, as Brent crude rebounded from a one-month low below $56 a barrel on Wednesday as traders bought the international benchmark and sold its U.S. rival, after data showed a large increase in U.S. oil stocks last week. The equity market closed red due to negative performances from all NSE subsectors (banking, oil & gas, insurance and consumer goods). Trading activities decreased in volume as 518.88 million shares worth N5.20 billion in 5,469 deals exchanged hands today. This is a decrease from the 528.86 million shares worth N5.30 billion in 4,955 trades carried out on Tuesday. Topping in volume terms was Transnational Corporation Of Nigeria Plc. International Energy Insurance Company Plc. and UBA Capital Plc, while Nigerian Brew. Plc. Zenith Bank Plc. and Guaranty Trust Bank Plc. ended trading as the most active stocks in value terms.
The All Share Index (NSEASI) closed negative with a 1.55% (-486.11) decrease to 30,869.16 from 31,355.28 the previous trading day. Market Capitalization depreciated in tandem to N10.30 trillion from N10.46 trillion the prior trading day. The Thisday BGL 50 Index closed also closed negative with a 1.60% decrease to close at 130.39 from 132.52 the previous trading day, while its market capitalization stood at N9.43 trillion from N9.59 trillion the previous trading day.
A total number of 15 stocks gained on the bourse today while 30 stocks declined, leaving 61 stocks unchanged. Ashaka Cem Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.97% to close at N18.79 per share. It was followed by Transnational Corporation Of Nigeria Plc with a gain of 4.90% to close at N3.0 per share. Others on the gainers chart include; Custodian And Allied Insurance Plc. Fidelity Bank Plc. and FCMB Group Plc.. On the decliners’ list, Honeywell Flour Mill Plc led with a loss of 5.00% to close at N2.66 per share. It was followed by Forte Oil Plc. with a loss of 5.00% to close at N192.86 per share. Others on the decliners’ list are; Guaranty Trust Bank Plc. Zenith Bank Plc. and International Breweries Plc.