Sell pressure resumes as index drops 1.17%
Market pulse on the Nigerian Stock Exchange (NSE) today-Wednesday September 2nd, 2015 was bearish as the stock market closed green today, due to renewed optimism on a day that saw Brent, the global oil benchmark, drop by $1.01 to close at $48.55 a barrel. This was further highlighted by negative performances from all the NSE sub sectors (Banking, Insurance, Consumer Goods and Oil & gas). Trading activities decreased in volume as 439.66 million shares worth N4.53 billion in 4,345 deals exchanged hands today. This is a decrease from the 785.53 million shares worth N5.49 billion in 4,747 deals carried out on Tuesday. Topping in volume terms was United Bank For Africa Plc, Zenith Bank Plc and Skye Bank Plc, while Guaranty Trust Bank Plc and Zenith Bank Plc, ended trading as the most active stocks in value terms.
The All Share Index (NSEASI) closed negative with a 1.17% (-354.48) increase to 29,870.86 from 30,225.34 the previous trading day. Market Capitalization depreciated in tandem to N10.27 trillion from N10.39 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 1.03% increase to close at 121.83 from 123.09 of the previous trading day, while its market capitalization stood at 9.49 trillion from 9.58 trillion of the previous trading day.
A total number of 12 stocks gained on the bourse today while 37 stocks declined, leaving 56 stocks unchanged. Diamond Bank Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 2.72% to close at N3.40 per share. It was followed by Wema Bank Plc with a gain of 2.27% to close at N0.90 per share. Others on the gainers list include; Stanbic IBTC group Plc and Total Nigeria Plc while on the decliners’ list, Dangote Sugar Refinery Plc led with a loss of 9.16% to close at N6.25 per share. It was followed by Forte Oil Plc with a loss of 5.00% to close at N236.08 per share. Others on the losers list include; UACN Plc, Seplat Petroleum Development company Plc and Oando Plc.