Equities trading on the Nigeria stocks exchange market slumped 0.05 percent on Tuesday to erase growth recorded previously.
This is as a result of the decline in market activity to the Central Bank’s monetary policy committee decision to retain all monetary policy rates, further dampening investors optimism.
As a result the NSE Banking Index led the sectoral losses by 1.13 percent, the main board dropped 0.15 percent while the NSE 30 mirrored the ASI, depreciating 0.05 percent.
Nevertheless, the NSE Oil and Gas Index recorded an appreciation of 1.17 percent on the back drop of growth recorded in Seplat and Forte Oil that advanced 4.11 and 0.19 percent respectively, while the NSE Consumer goods Index increased 0.31 percent following a 4.03 percent gain recorded in Nestle.
The Nigerian Stock Exchange All Share Index (ASI) thus lost 13.83 points or 0.05 percent to close at 26,217.54 points as against a growth of 7.83 points recorded in previous session when ASI closed at 26,231.37 points
The market capitalisation shrunk N5 billion from previous closing figure of N9.025 trillion, to close on Tuesday at N9.020 trillion.
The price movement chart showed market breadth turned negative as 13 companies recorded growth against 25 companies that declined.
7up led the day’s declining stocks, with 4.99 percent to close at N101.40, Custodian Insurance dropped 4.97 percent to close at N3.63, NCR depreciated 4.93 percent to close at N7.71, Nigerian Aviation Handling Company fell 4.90 percent to close at N2.72 and Sterling Bank dropped 4.88 percent to close at 78 kobo.
On the other hand, Cement Company of Northern Nigeria (CCNN) led the day’s advancing stocks by 4.62 percent to close at N5, UACN followed with an increase of 4.96 percent to close at N17.13, Nigeria Police Force Micro Finance Bank grew 4.67 percent to close at N1.12 while Africa Prudential Registrars and Seplat added 4.59 and 4.11 percent each to close at N3.19 and N380 respectively.
By the end of the day’s trading investors on the Exchange had traded a total of 187.7 million units of shares worth N10.4 billion in 3,057 deals, this is in comparison to 228.6 million units of shares amounting to N2.6 billion, exchanged by investors in 3,227 deals on Monday.
Seplat topped the day’s activity chart with 22.6 million units of shares traded, worth N8.6 billion, UCAP was next with 22.4 million units valued at N74.1 million and Transcorp was third with 18.6 million units of shares valued at N15.2 billion.
FBN Holdings was the fourth most traded stock with 18.2 million units valued at N65.2 million while GTB emerged fifth on the day’s top traded list with 14.2 million units of shares at N338.7 million.