Equity trading activities on the Nigerian Stock Exchange continued on a negative note on Wednesday, breaking the rally, which existed for the greater part of last week.
Specifically, the NSE’s All-Share Index fell by 0.4 per cent or 132.28 basis points from 33,487.82 points on Tuesday, to 33,355.54 basis points.
Similarly, the market capitalisation of the listed shares lost marginally by N42bn or 0.4 per cent, from N10.714tn the previous day, to N10.672tn.
The NSE-30 Index was also down by 0.4 per cent or 6.51 basis points to 1,597.86 points from 1,604.37 points recorded on Tuesday. The Consumer Goods Index fell by 0.2 per cent or 1.97 basis points to 980.30 basis points.
A total of 34 stocks recorded price depreciation while 40 stocks gained at the close of trading activities.
Aiico Insurance Plc emerged the highest loser of the day, shedding 9.9 per cent or 14 kobo to close at N1.28 per share.
Prestige Assurance Company Plc shed 9.7 per cent or 12 kobo to close at N1.12 per share.
Custodian Insurance Plc lost 8.51 per cent to close at N2.15 per share, while Niger Insurance Plc, Forte Oil Plc and Mansard Insurance Plc lost five per cent each to close at 57 kobo, N15.80 and N2.73 per share in that order.
On the other hand, Royal Exchange Plc led 39 other stocks on the price gainers’ chart, rising by 9.8 per cent or 11 kobo to close at N1.23 per share.
DN Meyer Plc also gained 9.6 per cent or 13 kobo to close at N1.49 per share.
Wema Bank Plc and Unity Bank Plc also gained 6.2 per cent and 5.4 per cent to close at N1.88 and N1.16 per share respectively, while Conoil Plc and Law Union and Rocks Plc rose by five per cent each to close at N23.10 and 63 kobo per share respectively.
The insurance sub-sector maintained its lead on the activity chart, accounting for 50 per cent of total volume traded.
In the sub-sector, investors exchanged 721.32 million shares, valued at N545m in 2,191 transactions.
Trading in the shares of Lasaco Assurance Plc, Soveriegn Trust Insurance Plc and NEM Insurance Company Plc drove the sub-sector’s turnover.
In all, investors exchanged 1.439 billion shares, valued at N5.597bn in 9,658 transactions.
Source: Punch (By Udeme Ekwere)