NSE Index Slides By 0.44% As Trading Sees Short-lived Bull Run

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Wednesday, July 13, reversed the one-day break from bear hold on Tuesday, July 12.

Consequently, the All Share Index plunged by 0.44 percent to close at 28,730.42 points against the gain of 0.15 percent to close at 28,857.34 points recorded in previous session.

All sectors depreciated except the NSE Insurance Index which added 1.89 points on the gains of Axamansard Insurance Plc and Continental Reinsurance Plc that added 9 and 3 kobo each to close at N2.15 and N1.14 respectively.

A breakdown of market activities showed that Skye Bank Plc led the day’s 25 losers as its share price plunged for the 5th day in a row by 8.22 percent or 6 kobo to close at 67 kobo per share.

Forte Oil Plc slid by 4.63 percent or N7.56 to close at N155.75 per share, while Glaxosmithkline Plc shed 4.10 percent or 77 kobo to close at N18 per share.

John Holt Plc dropped 3.85 percent or 3 kobo to close at 75 kobo per share, while Eterna Oil Plc dropped 3.85 percent or 10 kobo to close at N2.50 per share.

On the other hand, Transcorp topped the day’s 15 gainers as it added 9.52 percent or 14 kobo to close at N1.61 per share. Honeywell Flour Plc gained 8.89 percent or 12 kobo to close at N1.47 per share, while Axamansard Insurance Plc garnered 4.37 percent or 9 kobo to close at N2.15 per share.

FCMB Plc improved by 4.32 percent or 6 kobo, to close at N1.45, while Nascon Allied Industries Plc gained 4.30 percent or 33 kobo to close at N8 per share.