Losses at the Nigerian Stock Exchange, NSE, were extended on Thursday, October 13, from the previous trading. As such, the All Share Index of the bourse lost 0.62 percent to settle at 27,854.78 points.
Likewise, investors’ worth depreciated as market capitalisation dropped N59.2 billion to close at N9.567 trillion. Losses recorded across all sectors of the equities market albeit the Consumer goods sector which appreciated 0.3 percent were attributed to the steep decline recorded.
Twenty seven declining stocks led by E-tranzact Plc which dropped 4.99 percent to close at N5.14 per share also contributed to the fall in market capitalisation.
BOC Gases recorded the second highest loss for the day, dropped 4.86 percent or 18 kobo to close at N3.52 kobo per share, while investors sold off shares of Forte Oil on account of a 34 percent reduction in the company’s profit after tax for the third quarter released on the floor of the NSE recently.
This led to a drop of 4.82 percent or N7.69 in its share price to close at N152 per share. Other equity decliners were PharmaDeko, Guaranty, UAC-Prop, Wema Bank, Wapic Insurance, Stanbic, CCNN, PZ, Transcorp and FCMB. WAPCO, Eterna, Fidelity Bank,7up, Aiico Insurance, Skye Bank, UBA, FBNH, Sterling, Access, Oando, Africa Prudential Registrars, ETi and Zenith Bank completed the list of stocks that dropped at the close of the day’s trade.
Meanwhile, Diamond Bank Plc led the day’s 11 gainers with an appreciation of 4.39 percent or 5 kobo to close at N1.19kobo per share, Nigerian Aviation Handling Company (NAHCO) Plc followed with a gain of 4.10 percent or 13 kobo to close at N3.30 per share, and Dangote Sugar Plc came third on the advancers list with a growth of 2.85 percent or 18kobo to close at N6.50kobo per share.
Other equity gainers were Champion Breweries, Livestock feeds, Nigerian Breweries, Honeywell Flour and Mobil. Flourmills Nigeria Plc, Guinness, Vitafoam Plc also recorded gains of varying degrees at the close of the day’s trade.
Trading in the top three equities were Access Bank Plc that sold 158.1 million units of shares valued at N886.9 million, Diamond Bank Plc came second with the sale of 79.6 million shares worth N91.6 million and Fidelity Bank Plc sold 28.8 million units of shares valued at N24.5 million.
Market activity as measured by Volume and Value traded in 2,954 deals, settled at 380.8 million units and N1.8 billion respectively, compared to 155.6 million units and N1.4 billion traded previously.