The bull failed to maintain control from the previous trading session as transactions on the floor of the Nigerian Stock Exchange, NSE, fell flat on Wednesday, December 13.
Consequently, the NSE All Share Index depreciated by 1.00% on Wednesday, following the massive sell-off across major stocks especially in the Banking and Industrial sectors of the bourse.
Market breadth closed negative as 26 stocks declining stocks were paired against 19 advancing stocks, with Berger emerging the day’s best performer adding 4.93%, while PRESCO lead the laggards’ chart dropping 4.98%.
The Sectoral performance chart showed that the Banking Index crashed by 2.24%, largely driven by the sell-off in Guaranty Trust Bank which dropped 4.77%, Sterling Bank, losing 3.85%, Zenith Banking dipping by 3.85%, and FBNH shedding 2.26%. Thus outweighing FCMB’s 4.92% gain and Fidelity Bank’s 4.42% gain.
The NSE Industrial Index dropped 1.74% as a result of a 4.26% decline in WAPCO shares and the 0.46% loss in Dangote Cement shares. NSE Consumer Goods Index lost 0.48%, due to sell off in Cadbury and Champion stocks.
Meanwhile, the NSE Oil and Gas Index closed positive adding 0.09% following the gain of 0.89% in Mobil.
At the end of trading, Sterling Bank emerged the most actively traded stock with 43million units of shares worth N43million.
