NSE Index Drops 0.52% As Equities Extend Losses

Trading activities on the floor of the Nigerian Stock Exchange, NSE, on Wednesday, August 3, continued movements south as the All-Share Index shed 0.52 percent to close at 27,687.80 basis points, compared with a decline of 0.04 percent recorded previously at 27,831.95 basis points.

Market capitalisation closed at N9.509 trillion, thus causing investors to record a loss of N49 billion against a loss of N3.8 billion on Tuesday when market capitalisation closed at N9.558 trillion.

Seplat Petroleum Plc led the day’s 24 declining stocks on account of a 9.75 percent reduction in the value of its shares to close at N255.36 per share, while 7up and Honeywell Flour Plc followed with a loss of 5 percent each to close at N126.35 and N1.52 per share respectively.

On the flip side, MRS Oil Nigeria Plc led the day’s 17 advancers to close at N42.73 per share following a gain of 10.19 percent or N3.95, similarly Livestock Feeds and Transcorp trailed the gaining path on account of an 8.99 and 5.88 percent gain to close at 97 kobo and N1.26 per share respectively.

The three most traded stocks of the day were Fidson which accounted for 51.5 million shares valued at N113.2 million, Fidelity Bank which traded 45.6 million shares worth N49.1 million; and GTBank that exchanged 39 million shares valued at N935.9 million.

At the end of the day’s trading investors had exchanged a total of 301.2 million valued at N2.3 billion in 3,681 deals compared to 275.7 million shares valued at N3.15 billion exchanged in 4,126 deals, Tuesday.