27 June 2012

Nigeria: NSE Index Maintains 0,05 Percent Loss

Trading on the floor of the Nigerian Stock Exchange (NSE), continued on a poor note as it recorded a modest loss to close downward for the second day in a row.

At the close of trading session, the NSE All-Share Index dipped marginally by-0.05 per cent to close at 21,347.17 as against a decline by 0.18 per cent recorded in the previous session to close at 21,357.22.

The market capitalisation of 187 first-tier equities depreciated by N3.20 billion to close at N6.81 trillion as against depreciation by N11.98 billion recorded in the preceding session to close at N6.81 trillion.

Four out of five NSE sectoral indices closed negative as NSE 30 which basically measures the performance of blue chips maintained downtrend by 0.08 per cent, NSE Insurance closed with 0.81 per cent losses while NSE Oil & Gas also closed negative with 1.10 per cent. NSE banking recorded 0.20 per cent gain while NSE Food also recorded 0.17 per cent loss.

133 equities were traded yesterday as against previous 103 with more activities recorded in Financial Services, Conglomerates, Consumer Goods, Oil & Gas, Services, Industrial Goods, Healthcare, Agriculture, ICT, Construction/Real Estate and Natural Resources sectors.

Financial Services sector led the market transaction volume with 101.61 million units valued at N540.28 million exchanged in 2,267 deals as against 119.11 million units valued at N554.71 million exchanged in 1,962 deals recorded in the previous session.

The volume recorded in the sector was driven by transaction in the shares of Access Bank Plc, Fidelity Bank Plc, First Bank Plc, Ecobank Transnational Incorporation (ETI) Plc and Sterling Bank Plc and the total volume of 48.87 million units valued at 298.57 million traded in five stocks accounted for 21.09 per cent of the entire market volume and their value represented 17.37 per cent of the market value.

Transaction volume on the exchange moved downward by 14.51 per cent to close at 231.69 million units exchanged in 3,958 deals as against an upbeat of 97.27 per cent recorded in the previous trading to close at 271.01 million units exchanged in 3,648 deals.

The number of gainers at the close of trading session was higher at 20 as against 16 recorded in the previous session while decliners also closed higher at 28 as against 18 losers recorded the previous trading day.

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