Equity trading activities on the Nigerian Stock Exchange closed on a negative note on Wednesday, with major indicators losing marginally.

The NSE’s All-Share Index dropped by 1.1 per cent or 248.50 basis points from 21,632.11 to 21,383.61 on Wednesday’s close.

Similarly, the market capitalisation of listed shares fell by 1.2 per cent or N80bn from N6.899tn to close at N6.819tn.

The NSE-30 Index lost the highest by 0.7 per cent or 6.75 basis points to close at 972.29 points, while the Consumer Goods Index fell by 0.5 per cent or 8.61 basis points from 1,729.519 points to 1,720.90 points.

The NSE Insurance Index fell by 1.1 per cent or 1.41 basis points to 123.71 basis points, down from 125.12 points recorded the preceding day.

The NSE Banking Index, however, closed positive, appreciating by 1.5 per cent or 4.60 basis points from 304.22 to 308.82 points.

The banking sub-sector maintained its lead on the activity chart, accounting for 51 per cent of total volume traded on Thursday. In the sub-sector, investors exchanged 105.697 million shares, valued at N893m in 1,930 transactions.

Trading in the shares of First Bank of Nigeria Plc, Guaranty Trust Bank Plc, Skye Bank Plc and Fidelity Bank Plc drove the sub-sector’s turnover.

University Press Plc emerged the highest price gainer at the close of activities, rising by 4.9 per cent or 21 kobo to close at N4.42 per share.

Neimeth International Pharmaceutical Plc also gained 4.8 per cent or three kobo to close at 66 kobo per share, while Transnational Incorporated Plc and Fidson Plc rose by 4.7 per cent each to close at N1.11 and 89 kobo per share, respectively.

RT Briscoe Plc and May and Baker Plc rose by 4.6 per cent and 4.5 per cent to close at N1.34 and N1.62 per share in that order.

Dangote Cement Plc on the other hand, lost the highest, shedding five per cent or N5.61 to close at N106.64 per share.

Ashaka Cement Plc also lost five per cent or five kobo to close at N9.06 per share, while Guaranty Trust Assurance Plc and Ikeja Hotel Plc fell by 4.5 per cent and 4.2 per cent to close at 1.48 and N1.13 per share, respectively.

Source: Punch/Udeme Ekwere