Market resumes downward trend as ASI drops 0.17%

Market pulse on the Nigerian Stock Exchange (NSE) today-Monday November 9th 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 and Consumer Goods, (Save Insurance and Oil/Gas). Trading activities increased in volume as 1.13 billion shares worth N14.68 billion in 2,713 deals exchanged hands today. This is an increase from the 997.78 million shares worth N6.12 billion in 2,711 deals carried out on Friday. Topping in volume terms was Access Bank Plc, GTB Plc and Beco Petroleum Plc, while NB Plc and GTB Plc, ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with a 0.03% (-7.31) decrease to 29,168.04 from 29,175.35 the previous trading day. Market Capitalization depreciated in tandem to N10.03 trillion from N10.03 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 0.17% increase to close at 120.46 from 120.25 of the previous trading day, while its market capitalization stood at 9.38 trillion from 9.36 trillion of the previous trading day.

A total number of 25 stocks gained on the bourse today while 15 stocks declined, leaving 51 stocks unchanged. Oando Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 10.10% to close at N8.50 per share. It was followed by CCNN Plc with a gain of 10.09% to close at N8.73 per share. Others on the gainers list include; Fidson Healthcare Plc, Diamond Bank Plc and UACN Plc while on the decliners’ list Wema Bank Plc led with a loss of 4.04% to close at N0.95 per share. It was followed by 7up Bottling Company Plc with a loss of 3.12% to close at N185.06 per share. Others on the losers list include; Skye Bank Plc, Sterling Bank Plc and ETI Plc.