The bullish run, which had persisted in the equities section of the Nigerian Stock Exchange since last week, came to an end on Thursday with major indicators losing marginally.
The market capitalisation of the listed shares fell by 0.2 per cent or N19bn from N9.109tn to close at N9.090tn on Thursday.
Similarly, the NSE’s All-Share Index dropped by 0.2 per cent or 59.82 basis points from 28,501.21 points on Wednesday’s close to 28,441.39 points.
The NSE-30 Index was down marginally by 0.1 per cent or 1.59 per cent to close at 1,355.64 points, down from 1,357.23 points recorded the previous day.
The NSE Consumer Goods Index and the Banking Index, on the other hand, recorded marginal appreciation, rising by 0.7 per cent and 1.8 per cent to close at 849.80 basis points and 356.89 points, respectively.
Analysts traced the marginal slide in activities to low bargain on the part of investors.
According to them, some investors were taking advantage of the appreciation recorded in the market in the past few trading days.
The banking sub-sector maintained its lead on the activity chart, accounting for 59 per cent of total turnover traded.
In the banking sub-sector, 170.21 million shares, valued at N1.346bn, were exchanged by investors in 2,142 transactions.
Trading in the shares of First City Monument Bank Plc drove the sub-sector’s turnover, accounting for 20 per cent of volume in the sub-sector.
Other companies that recorded high turnover in the sub-sector are Diamond Bank Plc, Skye Bank Plc, Fidelity Bank Plc and Zenith Bank Plc.
FCMB Plc emerged the highest price gainer at the close of activities, rising by 9.7 per cent or 40 kobo to close at N4.50 per share.
Aiico Insurance Plc gained 6.45 per cent or four kobo to close at 66 kobo per share.
SkyeBank and Fidson Plc followed on the chart, rising by 5.7 per cent and 5.6 per cent to close at N5 and N1.14 per share, respectively.
Diamond Bank, on the other hand, lost the highest, shedding 5.5 per cent or 30 kobo to close at N5.1$0 per share.
John Holt Plc and Cutix Plc fell by 4.9 per cent and 4.6 per cent to close at N3.07 and N1.46 per share in that order.
Source: Punch (written by Udeme Ekwere)