NSE’s indices sustain sliding profile, down by N10billion

Following price losses suffered by major blue chip companies, equity transactions on the trading floor of  the Nigerian Stock Exchange (NSE) yesterday closed on a down ward note, as market capitalisation slide by N10 billion.

Specifically, at the close of trading yesterday, market capitalisation of listed equities fell by 0.08 per cent to N11.422 trillion from N11.432 trillion traded on Tuesday.

The NSE All Share Index (ASI) went down by 29.83 basis points from 33492.17 points recorded the previous day to 33462.34 point. Investors bought 590.790 million shares worth N4.125 billion in 3863 deals against 226.198 million shares valued at N2.743 billion in 3512 deals.

An analysis of the investment showed that ‎​Forte Oil Plc led the gainers table during the day, growing by N14.63 kobo to close at N173.23 kobo, PZ Industries followed with a gain of N1.53 kobo to close at N32.19 kobo, Nestle Nigeria Plc gained N1.00 to close at N856.00, Nigerian Breweries increased by N0.90 kobo to close at N147.90 kobo and GlaxosmithKline appreciated by N0.88 kobo to close at N44.99 kobo.

Conversely, Betaglass recorded the highest loss for the day, depreciating by N2.10 kobo to close at N39.90 kobo, Stanbic IBTC trailed with a loss of N1.00 to close at N27.00, Zenith International Bank declined by N0.64 kobo to close at N19.20 kobo. Other companies that recorded price depreciation were Guaranty Trust Bank and Lafarge Wapco, which fell by N0.44 kobo and N0.40 kobo respectively to N26.50 kobo and N99.10 kobo.

Further analysis of the trading showed that ‎​United Bank for Africa (UBA) of the banking subsector led the activities in volume terms, trading 144.802 million shares worth N750.445 million, MultiVerse followed with account of 129.833 million shares valued at N64.916 million, Cornerstone Insurance sold 103.100 million shares cost N51.550 million, IPWA  traded 54.554 million shares worth N27.277 million while GTBank exchanged 28.146 million shares valued at N751.446 million