Transactions on the floor of the Nigerian Stock Exchange, NSE, closed Tuesday, September 6, on a negative note for the third consecutive trading session.
As such, the All Share Index slid by 0.73% or 203.31 basis points to close at 27,503.81 basis points while investors lost N69.8 billion as market capitalisation depreciated to N9.448 trillion, and Year to Date losses dipped to -3.97 percent.
Investors’ sentiment remained negative as market breadth settled at 10 gainers against 25 losers. Portland Paints Plc led the day’s declining stocks with a decline of 9.09 percent or 16 kobo to close at N1.60 per share.
Union Bank of Nigeria trailed closely behind with a depreciation of 5.00 percent or 21 kobo to close at N3.99 per share and Africa Prudential Registrars depreciated 4.82 percent or 12 kobo to close at N2.37 per share.
On the flip side, the day’s top three gainers were UACN which grew by 4.88 percent or one naira to close at N21.50 per share, May & Baker that added 2.35 percent or 2 kobo to close at 87 kobo per share and Eterna Oil that appreciated 2.19 percent or 6 kobo to close at N2.80 per share.
The day’s dismal market performance was on the back drop of profit taking in the shares of Forte Oil Plc having dropped 2.82 percent or N5 in its share price to close at N172 per share, Dangote Cement Plc, as it lost 1.14 percent or N2 to close at N173 per share, Total Nigeria Plc dropped by 0.37% or 90 kobo to close at N241 per share, Cadbury Plc depreciated by 4.11% or 60 kobo to close at N14 per share and Zenith Bank Plc fell by 2.34% or 35 kobo to close at N14.6 per share.
The top three traded stocks were: Guaranty Trust Bank Plc with the sale of 31.3 million shares worth N845.0 million, followed by Eco Transnational Incorporated Plc that exchanged 31.0 million shares worth N350.9 million, and Access Bank that traded 17.2 million stocks valued at N93.1 million
At the end of market session for the day, the volume traded depreciated by 9.36 percent to settle at 176.8 million units and Value traded appreciated by 20.07 percent from previous day’s N1.6 billion to settle N1.9 billion.
