Business
Nigerian bourse down 0.14% as trading volume drops
BY EMEKA EJERE
The Nigerian stock market on Tuesday closed on a negative with Index depreciating by -0.14 % to close at 21,300.47. Market capitalization closed by the same margin at N11.100Trillion, bringing YTD performance to -19.28%.
Trading activity level was low as total volumes and values traded on the Nigerian bourse dipped by -26.26% and -15.73% respectively, to a total of 422.00million shares valued at N1.724billion in 3,448 deals.
Sterling Bank was the most traded stock by volume at 303.45 million units, followed by Zenith Bank with 29.65 million units of trades. Market breadth index mirrored the All-share index as JAIZBANK (-9.43%) led 11 losers, as against 9 gainers topped by GLAXOSMITH (+10.00%).
The Banking Index led the losers side with -1.12% on the back of sell-offs in STERLNBANK (-4.17%), ZENITH BANK (-2.09%), ACCESS (-1.65 %) and FBNH (-1.25%), trailed distantly by the Industrial index -0.09%, on price decline in WAPCO (-1.08%)
The Banking Index led the losers side with -1.12% on the back of sell-offs in STERLNBANK (-4.17%), ZENITH BANK (-2.09%), ACCESS (-1.65 %) and FBNH (-1.25%), trailed distantly by the Industrial index -0.09%, on price decline in WAPCO (-1.08%)
Conversely, the Insurance Index gained by +1.63% on gains recorded in NEM (9.52%), followed by the Consumer Goods index, +0.46%, on buy interest in UNILEVER (+4.76%) and FLOUR MILL (+2.16%), while the Oil & Gas index closed flat.
Top gainers
GLAXOSMITH up 10.00% to close at N4.4, MAY BAKER up 9.74% to close at N2.14, UNILEVER up 4.76% to close at N11 FLOUR MILL up 2.16% to close at N21.25, NEM up 9.52% to close N2.07
ZENITH BANK down 2.09% to close N11.7, UACNdown 2.70% to close at N7.2, GUARANTY down 1.12% to close a tN17.7 WAPCO down 1.08% to close at N9.2ACCESS down 1.65% to close at N5.95