NSE Index Plunges By 0.85% as Sell-Pressure Weighs on Trading

Trading activities on the floor of the Nigerian Stock Exchange, NSE, on Tuesday, July 19 sustained movements south  as lead indicators shed 0.85 percent as against 0.25 percent lost in previous session.

Consequently the All Share Index lost 245.34 points to close at 28,488.56 points compared to 71.55 points lost previously to close at 28,733.90 points, sliding year-to-date returns to a negative zone of -0.54 percent.

Oando led the day’s 26 losers as it dropped 9.70 percent or 64 kobo to close at N5.96 per share, Tiger Branded Consumer Goods Plc fell by 5 percent or 21 kobo to close at N3.99 per share, while Wapco Plc lost 5 percent or N3.16 to close at N60.06 per share.

May and Baker Pharmaceuticals Plc also depreciated by 5 percent or 6 kobo to close at N1.14 per share and Livestock Feed Plc dropped 4.90 percent or 5 kobo to close at 97 kobo per share.

Conversely, Skye Bank led the day’s seven gainers for the second consecutive day as it added 9.09 percent or 6 kobo to close at 72 kobo per share, AIICO Insurance Plc appreciated by 4.11 percent or 3 kobo to close at 76 kobo per share, while UACN Plc added 1.99 percent or 40 kobo to close at N20.50 per share.

Ikeja Hotel Plc also appreciated by 1.61 percent or 3 kobo to close at N1.89 per share and Nigerian Breweries Plc gathered 1.47 percent or N1.96 to close at N135.04 per share.

At the end of trading for the day, investors traded 242 million shares valued at N1.6 billion in 3,684 deals in contrast to 315.6 million shares worth N1.7 billion exchanged in 3,976 deals on Monday.