Nigerian Stocks falter still as Equities market loses by 0.50%

Market pulse on the Nigerian Stock Exchange (NSE) today- Wednesday May 6th 2015 was bearish as Brent crude oil climbed to a high of $68.40 a barrel, its highest since December. The equity market closed red today. Performances were positive from both the Banking and Insurance sectors save consumer goods and Oil and Gas sectors.

Trading activities increased in volume as N473.56million shares worth N3.4billion in 5110 deals exchanged hands today. This is an increase from N247.4million shares worth N4.2billion in 4848 deals trades carried out the previous day. Topping in volume terms was Transcorp Plc., Access Bank Plc. and UBA Plc. while UBA Plc and Transcorp Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with a -0.50% (-173.30) decrease to 34,427.12 from 34,600.42 the previous trading day. Market Capitalization depreciated in tandem to N11.691 trillion from N11.750 trillion the prior trading day. The Thisday BGL 50 Index also closed negative with a 0.51% decrease to close at 144.52 from 145.26 the previous trading day, while its market capitalization stood at N10.680 trillion from N10.734 trillion the previous trading day.

A total number of 20 stocks gained on the bourse today while 28 stocks declined, leaving 84 stocks unchanged. National Salt Co. Nig. Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.10% to close at N 8.94 per share. It was followed by CAP Plc. with a gain of 4.99% to close at N 37.44per share. Others on the gainers list include Honeywell Flour Mill Plc, Total Nigeria Plc. and Wapic Insurance Plc. On the decliners’ list, UACN Property Development Co. Limited led with a loss of -4.92% to close at N10.25per share. It was followed by Unity Bank Plc. with a loss of -4.70% to close at N 3.04per share. Others on the losers list include; P Z Cussons Nigeria Plc., Forte Oil Plc. and Fidson Healthcare Plc.