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Stock market index dips 0.46%

Trading on the Nigerian Stock Exchange (NSE) today sustained the previous day’s sluggish trend leading to a marginal drop in the All Share Index (ASI) shedding 46 basis points.

While the Year-to-Date (YtD) returns stood at 8.50 per cent, the market capitalisation dipped by N14.89 billion at the close of the trading, just as market breadth closed negative with 19 gainers against 35 losers.

Data obtained from the NSE, showed that indices declined in most sectors except the Banking sector which recorded a marginal positive trend, owing to gains in Fidelity Bank and FCMB Holdings.

Fidelity gained 7.76 per cent to its share value to top the gainer’s chart, followed by Glaxosmithkline Nigeria Plc which gained five per cent to its value. Dangote Flour Plc’s share gained five per cent, while Guinness Nigeria Plc followed marginally with 4.79 per cent increase.

On the flip side of the chart table, Cadbury Nigeria Plc, whose stocks depreciated by 9.63 per cent topped the losers’ chart, trailed by Unity Kapital Insurance Plc which lost 7.69 per cent of its value. Mansard Assurance Plc’s share depreciated 7.41 per cent, while WAPCO Plc lost 6.55 per cent compared with Unity Bank Plc’s share which declined by 6.11 per cent.

However, transaction level in terms of volume and value increased by 19.49 per cent and 44.03 per cent respectively, as Japaul, Zenith Bank, Fidelity Bank top the activities chart in terms of volume while Dangote Cement, Guaranty Trust Bank. Nigerian Breweries topped the trade value chart.

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