For the first quarter of 2016, stock trading on the Nigerian Stock Exchange, NSE, slid by 13.2 per cent as market capitalization for the first quarter closed at N8.704 trillion against the N9.850 trillion it opened with in January.
This is even as the All Share Index, ASI, also shed 3,336.03 basis points to close at 25,306.22 compared to 28,642.25 basis points it recorded at the opening of trading for the year 2016, as the Year-to-Date (YTD) returns currently stands at -11.65 per cent.
At the end of close of trading activities yesterday, the market however recorded 0.64 per cent gain with the ASI closing at 25,306.22 basis points compared to 25,145.28 points recorded in the preceding trading day.
Similarly, Market Capitalisation added N55.4bn to close at N8.7 trillion compared to N45 billion lost previously to close at N8.69 trillion.
A total of 264 million shares amounting to N1.94 billion were exchanged at the market in 3,298 deals today, with top three traders recorded as FCMB which sold 44.4 million shares worth N38.1 million, Fidelity Bank with total sales of 34.8mn shares amounting to N46.24 million and Sterling Bank transactions of 32.43 million shares valued at N52.5 million.
The day’s index appreciation is attributed to the increase in share prices of Total Plc which rose by N7.32 to close at N153.82 per share, Mobil which also increased by N5.99 to close at N161.99 per share, Dangote Cement’s appreciation of N3.75 to close at N167.8 per share, Julius Berger Plc addition of N3.3 to close at N44.8 per share and 7up’s growth of N2 to close at N155 per share.
Top five financial decliners during the day’s transactions were SEPLAT which lost N10 to close at N300 per share, WAPCO dropped N2 to close at N77 per share and Okomuoil fell N1.57 to close at N29.85 per share. Guinness also lost N1.25 to close at N104.5 per share while Unilever declined by 25 kobo to close at N29 per share.