Persistence of downward trend as ASI sheds 0.58%

Market pulse on the Nigerian Stock Exchange (NSE) today-Thursday October 22nd 2015 was bearish as the stock market closed red today, due to intense sell pressure. This was further highlighted by negative performances from the NSE Sub sectors; Banking, Insurance and Oil/ Gas (Save Consumer Goods). Trading activities increased in volume as 284.11 million shares worth N2.82 billion in 2,962 deals exchanged hands today. This is an increase from the 207.48 million shares worth N3.43 billion in 2,767 deals carried out on Wednesday. Topping in volume terms was Access Bank Plc, Fidelity Plc and Diamond Bank Plc, while GTB Plc and Access Bank Plc, ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 0.58% (-173.53) decrease to 30,025.62 from 30,199.15 the previous trading day. Market Capitalization depreciated in tandem to N10.32 trillion from N10.38 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 0.41% decrease to close at 124.33 from 124.84 of the previous trading day, while its market capitalization stood at 9.68 trillion from 9.72 trillion of the previous trading day.

A total number of 17 stocks gained on the bourse today while 26 stocks declined, leaving 53 stocks unchanged. Oando Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.37% to close at N10.40 per share. It was followed by Honeywell Flourmill Plc with a gain of 4.87% to close at N2.80 per share. Others on the gainers list include; Diamond Bank Plc, CCNN Plc and PZ Cussons Plc while on the decliners’ list, Okomu Oil Palm Plc led with a loss of 9.74% to close at N32.16 per share. It was followed by Guinness Plc with a loss of 5.70% to close at N142.20 per share. Others on the losers list include; Cadbury Nigeria Plc, ETI Plc and Unity Bank Plc.