Market reverses one day gain as Index sheds 0.21%

Market pulse on the Nigerian Stock Exchange (NSE) today – Thursday, January 12th, 2017, ended on a negative note as market closed red. This was further highlighted by negative performance from the NSE Subsectors: Banking and Consumer Goods (Save Insurance and Oil & Gas). Trading activities decreased in volume as 179.43m shares worth of N1.49 billion in 2,928 deals exchanged hands today. This is a decrease from the 197.45m shares worth of N1.05 billion in 3,410 deals which exchanged hands on Wednesday. Topping in volume terms are: United Bank for Africa Plc, FBN Holdings Plc and Access Bank Plc, while Guaranty Trust Bank Plc and Forte Oil Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with 0.21% (-55.45) decrease to close at 26,330.39 from 26,385.80 the previous trading day. Market Capitalization depreciated in tandem to N9.06 trillion from N9.08 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.18% to close at 109.42 from 109.62 recorded at the end of the previous trading day, while its market capitalization stood at N8.52 trillion from N8.54 trillion of the previous trading day.

A total number of 13 stocks gained on the bourse today while 23 stocks declined, leaving 63 stocks unchanged. United Bank for Africa Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.89% to close at N4.93 per share. It was followed by Diamond Bank Plc with a gain of 3.03% to close at N1.02 per share. Others on the gainers list include:

Sterling Bank Plc, Access Bank Plc and Zenith Bank Plc; while on the decliners’ list, Forte Oil Plc emerge with a loss of 8.98% to close at N73.99 per share. It was followed by Fidson Healthcare Plc with a loss of 8.26% to close at N1.11 per share. Others on the decliners list include: National Salt Co. Nig. Plc, UACN Property Development Co. Limited and PZ Cussons Nigeria Plc