Trading activities on the floor of the Nigerian Stock Exchange (NSE) yesterday closed downswing, as the overall market performance indices dropped by 0.44 per cent.
Transactions on the stock market had the previous day also closed on the positive trajectory.
However, at the close of trading yesterday, the All-Share Index dropped by 157.27 basis points or 0.44 per cent to close at 35,358.94 index points as against 35,516.21 recorded the previous day, while the market capitalisation of equities depreciated by N58 billion from N12.966 trillion the previous day to N12.908 trillion.
Meanwhile, a turnover of 345 million shares exchanged in 3,261deals was recorded in the day’s trading.
Insurance sub-sector of the financial services sector was the most active (measured by turnover volume) with 188 million shares exchanged by investors in 191 deals.
Volume in the sub-sector was largely driven by the activities in the shares of NEM Insurance Plc and Wapic Insurance Plc.
A total volume of 180.06 million units of shares of NEM Plc valued at N540.13 million was traded.
The transaction represents 52.18 per cent of the total market volumes of 345.06 million while the value of NEM shares traded represents 23.82 per cent of the total market value traded, which was put at N2.27 billion.
The banking sub- sector also of the financial services segment boosted by the activities in the shares of Ecobank Plc and Fidelity Bank Plc followed with a turnover of 49.5 million shares in 611 deals.
The number of gainers at the close of trading session was 18, while decliners closed at 27.
Further analysis of the day’s trading showed that Portland Paints Plc topped the gainers’ table with 9.96 per cent each to close at N2.98 per share apiece while Regency Alliance Insurance Plc followed with 9.52 per cent to close at 23 kobo per share and Skye Bank Plc with a gain of 7.69 per cent to close at 56 kobo per share.On the flip side, Livestock Feeds Plc led the losers’ chart with a drop of 10 per cent to close at 54 kobo per share. Standard Alliance Insurance Plc followed with a loss of 9.52 per cent to close at 38 kobo per share, while Lasaco Insurance Plc dropped by 9.09 per cent to close at 30 kobo per share.