Trading activities on the floor of the Nigerian stock market yesterday closed in the red after it had opened the month in a positive territory the previous day. Consequently, the overall performance measures, NSE ASI and market capitalisation, fell by 0.11 per cent.
The downswing according to market watchers was due to profit takings by market speculators following appreciable gains some blue chip companies achieved the previous day. Consequently, the All- Share Index shed 29.4 basis points or 0.11 per cent to close at 27,223.08 index points as against 27,252.48 recorded the previous day while market capitalisation of equities depreciated by N10 billion or 0.11 per cent to close lower at N9.350 trillion from N9.360 trillion.
Meanwhile, a turnover of 202.7 million shares in 3,337 deals was recorded in the day’s trading. The banking sub sector of the financial services sector was the most active (measured by turnover volume); with 66.8 million shares exchanged by investors in 1,497 deals. Volume in the sub-sector was largely driven by activities in the shares of GTB Plc and Sterling Bank Plc. Also, other financial services sub-sector, boosted by the activities in the shares of FCMB Plc and United Capital Plc followed with a turnover of 60.6 million shares in 191 deals.
The number of gainers at the close of trading session was 18, while decliners closed at 15. Further analysis of the day’s trading showed that Champion Breweries Plc topped the gainers’ table with 7.32 per cent to close at N2.64 per share while Transcorp Plc trailed with 6.90 per cent to close at 93 kobo per share.
Airline Services Plc gained five per cent to close at N2.31 per share. On the flip side, ETI Plc led the losers’ chart with a drop of 4.95 per cent to close at N10.18 per share. Oando Plc followed with a loss of 4.89 per cent each to close at N4.47per share, while UAC Property Plc dropped by 4.85 per cent to close at N2.94 per share