Equity market loses again to record 7 day losing streak

Market pulse on the Nigerian Stock Exchange (NSE) today- Tuesday May 12th 2015 was bearish as Brent crude oil price fell by 48 cents to close at $64.91 a barrel. The equity market closed red today and recorded were negative performances from all the sectors save the insurance sector.

Trading activities increased in volume as N525.9million shares worth N3.289billion in 4364 deals exchanged hands today. This is an increase from N207.3million shares worth N2.363billion in 3907 traded deals carried out on Monday. Topping in volume terms was UBA Plc., Sterling bank Plc. and Unity bank Plc. While UBA 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 -0.66% (-226.58) decrease to 34,115.49 from 34,341.88 the previous trading day. Market Capitalization depreciated in tandem to N11.585 trillion from N11.663 trillion the prior trading day. The Thisday BGL 50 Index also closed negative with a -0.73% decrease to close at 142.74 from 143.79 the previous trading day, while its market capitalization stood at N10.548 trillion from N10.626 trillion the previous trading day.

A total number of 18 stocks gained on the bourse today while 26 stocks declined, leaving 84 stocks unchanged. Fidelity Bank Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.00% to close at N 1.89per share. It was followed by Mansard Insurance Plc. with a gain of 4.68% to close at N 3.13per share. Others on the gainers list include P Z Cussons Nigeria Plc., Continental Reinsurance Plc and Skye Bank Plc. On the decliners’ list, Eco bank Transnational Incorporated Plc led with a loss of -9.71% to close at N21.01per share. It was followed by Total Nigeria Plc. with a loss of -4.91% to close at N 156.90per share. Others on the losers list include; Unity Bank Plc, Oando Plc and National Salt Co. Nig. Plc