No respite insight as index dips by significant 2.59%

Market pulse on the Nigerian Stock Exchange (NSE) today-Monday August 17th, 2015 was bearish as the stock market closed red today, due to intense sell pressure and profit taking. This was further highlighted by the negative performances from all the NSE sub sectors; Consumer Goods, Insurance, Oil & gas and Banking. Trading activities increased in volume as 476.36 million shares worth N3.65 billion in 3,841 deals exchanged hands today. This is an increase from the 189.07 million shares worth N2.42 billion in 4,168 deals carried out on Friday. Topping in volume terms was Access Bank Plc, Transcorp Plc and FBNH Plc, while Access Bank Plc and Lafarge Africa Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 2.59% (-796.18) decrease to 29,909.44 from 30,705.62 the previous trading day. Market Capitalization depreciated in tandem to N10.25 trillion from N10.52 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 2.64% decrease to close at 126.10 from 129.52 of the previous trading day, while its market capitalization stood at 9.57 trillion from 9.83 trillion of the previous trading day.

A total number of 7 stocks gained on the bourse today while 41 stocks declined, leaving 62 stocks unchanged. Transcorp Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.67% to close at N2.69 per share. It was followed by Forte Oil Plc with a gain of 2.32% to close at N219.98 per share. Others on the gainers list include; Zenith Bank Plc, Unity Bank Plc and UBA Plc. On the decliners’ list, FCMB Group Plc led with a loss of 8.50% to close at N2.26 per share. It was followed by Access Bank Plc with a loss of 5.75% to close at N4.10 per share. Others on the losers list include; Dangote Cement Plc, GlaxoSmithKline Plc and Seplat Development Oil Plc.