Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, witnessed a drop in share prices as bears regained grip following profit taking. The stock market had, during the previous day, recorded appreciable gain. The market breadth closed positive with 21 gainers against 16 losers. Consequently, the NGX All-Share Index dipped 6.14 basis points or 0.01 per cent to close at 42,388.57 index points as against 42,394.71 recorded the previous day while market capitalisation of equities depreciated by N3 billion from N22.128 trillion the previous day to N22.125 trillion as market sentiment returned on the negative territory.
Meanwhile, a turnover of 275.93 million shares exchanged in 3,489 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 98.65 million shares exchanged by investors in 1,053 deals. Volume in the subsector was largely driven by activities in shares of FBNH Plc and Zenith Bank Plc. Also, the insurance sub-sector boosted by activities in shares of Soveriegn Trust Insurance Plc and Mutual Benefits Assurance Plc followed with a turnover of 25.89 million shares in 203 deals.
Further analysis of the day’s trading showed that in percentage terms, Meyer Paints Plc topped the day’s gainers’ table by 9.52 per cent each to close at 46 kobo per share while CHI Plc followed with 9.26 per cent to close at 59 kobo per share. CAP Plc added 6.87 per cent to close at N19.45 per share. On the flip side, Eterna Oil Plc led the losers by 9.91 per cent to close at N5.00 per share while MRS Oil Plc shed 9.85 per cent to close at N12.35 per share. Japaul Gold Plc trailed with 7.69 per cent to close at 36 kobo per share. TRY IT TONIGHT!!! —
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