The Nigerian equity market yesterday tumbled for the fourth consecutive trading day, as sell pressure was unabated, producing 19 losers against 16 gainers.
Key market indicators, the NSE ASI declined by 0.09 per cent, as bargain hunters continued to remain on the sideline following growing political tension.
Consequently, the All-Share Index dipped 33.98 basis points or 0.09 per cent to close at 36,299.82 as against 36.333.80 recorded the previous day while the market capitalisation of equities depreciated by N12 billion or 0.09 per cent to close at N13.249 trillion from N13.261 trillion.
Meanwhile, a turnover of 114 million shares exchanged in 2,610 deals was recorded in the day’s trading.
Premium sub-sector was the most active (measured by turnover volume) with 36.2 million shares exchanged by investors in 633 deals.
Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and Zenith Bank Plc.
The Insurance sub-sector of the financial services segment boosted by activities in the shares of Sovereign Trust Insurance Plc and Mutual Benefits Assurance Plc followed with a turnover of 29.1 million shares traded in 249 deals.
Shares of Unity Bank Plc led the gainers chart, appreciating by 9.30 per cent to close at 94 kobo per share. Sovereign Trust Insurance Plc followed with a gain of 8.70 per cent to close at 25 kobo per share, while Neimeth Pharmaceuticals Nigeria Plc gained 8.45 per cent to close at 77 kobo per share.
On the flip side, shares of Mutual Benefits Assurance Plc led the losers, shedding 9.68 per cent to close at 28 kobo per share. NSLTECH Plc plunged 9.09 per cent to close at 30 kobo per share while Union Dicon Plc dropped 7.69 per cent to close at 36 kobo per share.