Equity market closes negative on last trading week

Market pulse on the Nigerian Stock Exchange (NSE) today- Monday May 22nd 2015 was bearish as Brent crude oil price traded around $67 a barrel. The equity market closed red due to negative performance from all the NSE sub sectors. Trading activities increased in volume as N305.7million shares worth N2.97billion in 4674 deals exchanged hands today. This is an increase from N185.3million shares worth N1.395billion in 3515 traded deals carried out on Thursday. Topping in volume terms was UBA Plc., Diamond bank of Nigeria holdings Plc. and First bank of Nigeria holdings Plc. While Access 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 0.54% (-187.61) increase to 34,272.09 from 34,781.46 the previous trading day. Market Capitalization depreciated in tandem to N11.64 trillion from N11.71 trillion the prior trading day. The Thisday BGL 50 Index also closed negative with a 0.59% decrease to close at 142.46 from 143.31 the previous trading day, while its market capitalization stood at N10.62 trillion from N10.68 trillion the previous trading day.

A total number of 36 stocks gained on the bourse today while 18 stocks declined, leaving 76 stocks unchanged. Okomu Oil Plc. emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.71% to close at N30.26 per share. It was followed by Fidson Healthcare Plc. with a gain of 4.36% to close at N3.59 per share. Others on the gainers list include Mansard Insurance Plc. Unity Bank Plc. and Fidelity Bank Plc. On the decliners’ list, Forte Oil led with a loss of 4.91% to close at N177.80 per share. It was followed by Skye Bank Plc. with a loss of 4.81% to close at N2.57 per share. Others on the losers list include; Transnational Corporation Of Nigeria Plc. National Salt Co. Nig. Plc. and Wema Bank Plc.