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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

NSE Index Drops 1.17% As Trading Sustains Downward Spiral

Stock Market Remains In Green, Investors Gain N27bn

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, June 21, closed the third trading session of the week with a downward trajectory.

Consequently, the NSE All Share Index, ASI, depreciated by 1.17 percent to close at 38,152.60 points, driven by sell-offs across most sectors.

Similarly, the market breadth index closed negative with 24 gainers paired against 26 stocks that declined.

Japaul Oil & Maritime Services Plc was the day’s biggest gainer with a gain of +9.30 percent, while Honeywell Flour Mills Plc with a loss of 5.00 percent to lead the decliners’ chart.

The sectorial performance chart showed the NSE Oil & Gas index closing down by 2.39 percent on the back of the selloffs recorded in the shares of Seplat Petroleum Development Company Plc which dropped 4.49 percent, Caverton Offshore Support Group Plc which declined by 1.78 percent, Oando Plc which dropped 1.48 percent and Eterna Plc which dipped by 1.39 percent.

The NSE Banking index lost 0.54 percent following the declines in the shares of lender, Skye Bank Plc,  Guaranty Trust Bank Plc, Zenith Bank Plc, FBN Holdings Plc and United Bank for Africa Plc.

Also, the NSE Industrial index slumped by 0.54 percent driven by the losses in the shares of Cement Company of Northern Nigeria Plc and Dangote Cement Plc both shedding 4.76 percent and 3.64 percent respectively.

On the positive side, the NSE Consumer Goods index swelled by 0.47 percent following the buy interest recorded in the shares of beer producer, Nigerian Breweries Plc, Dangote Flour Mills Plc, Guinness Nigeria Plc and Flour Mills Nigeria Plc.

At the end of trading for Thursday, FBN Holdings Plc was the most actively traded with 37.29 million units of shares worth N394 million.

 

 

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