No respite in slides as ASI slides by additional 0.86%
Market pulse on the Nigerian Stock Exchange (NSE) today-Wednesday February 24th 2016, was bearish as the stock market closed red today, due to intense sell pressure on a day that saw Brent crude oil prices slide by 4% to close at $33.27 per barrel. This was further highlighted by negative performances from the NSE Sub sectors; Banking, Insurance and Consumer (Save Oil & Gas). Trading activities decreased in volume as 269.50 million shares worth N1.22 billion in 3,002 deals exchanged hands today. This is a decrease from the 201.73 million shares worth N1.22 billion in 2,559 deals carried out on Monday. Topping in volume terms was FCMB Group Plc, Zenith Bank Plc and Fidelity Bank Plc, while Zenith Bank Plc and Nigerian Breweries Plc ended trading as the most active stocks in value terms.
The All Share Index (NSEASI) closed negative with a 0.86% (-207.64) decrease to 23,883.34 from 24,090.80 the previous trading day. Market Capitalization depreciated in tandem to N8.22 trillion from N8.29 trillion of prior trading day. The Thisday BGL 50 Index also followed suit with a 0.87% decrease to close at 97.21 from 98.06 the previous trading day, while its market capitalization stood at N7.57 trillion from N7.63 trillion of the previous trading day.
A total number of 13 stocks gained on the bourse today while 23 stocks declined, leaving 53 stocks unchanged. Unity Bank Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.41% to close at N0.71 per share. It was followed by Flour Mills Nig. Plc. with a gain of 1.58% to close at N19.30 per share. Others on the gainers list include National Salt Co. Nig. Plc, Ecobank Transnational Incorporated and Nigerian Aviation Handling Company Plc while on the decliners’ list FCMB Group Plc led with a loss of 6.17% to close at N0.76 per share. It was followed by Zenith Bank Plc with a loss of 4.98% to close at N10.87 per share. Others on the losers list include; Guinness Nig Plc, Skye Bank Plc and Mansard Insurance Plc.