The dual impact of depressed sentiment and unimpressive earnings affected trading on the Nigerian Stock Exchange ( NSE ) on Thursday.
Consequently, the market capitalisation dropped to N13 trillion mark, losing N87 billion or 0.62 per cent to close at N13.965 trillion against N14.052 trillion posted on Wednesday.
Also, the All-Share Index dipped 166.14 points or 0.62 per cent to close at 26,808.24 points against 26,974.38 on Wednesday, on the account of investors’ sell-off of banking stocks.
Month-to-Date and Year-to-Date losses increased to -7.06 per cent and -0.13 per cent, respectively.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which were; Stanbic IBTC Holdings, Flour Mills, Nigerian Breweries, Guaranty Trust Bank and UACN.
Market breadth closed negative, with 13 gainers compared with 19 losers.
Flour Mills led the losers’ chart in percentage terms, declining by 8.70 per cent, to close at N21 per share.
Consolidated Hallmark Insurance followed with 6.90 per cent to close at 27k, while NPF MicroFinance lost 6.25 per cent to close at N1.05 per share.
Stanbic IBTC Holdings shed 6.23 per cent to close at N36.10, while Oando dropped 5.66 per cent to close at N3 per share.
Conversely, Jaiz Bank dominated the gainers’ table in percentage terms with 9.43 per cent, to close at 58k per share.
Law Union and Rock Insurance followed with 7.95 per cent to close at 95k, while Nigerian Aviation Handling Company appreciated by 7.04 per cent to close at N2.89 per share.May and Baker grew by 4.81 per cent to close at N1.96, while AIICO Insurance appreciated by 3.66 per cent to close at 85k per share.Zenith Bank was the toast of investors with 45.57 million shares valued N868.09 million.Nigerian Breweries followed with an account of 39.498 million shares worth N1.78 billion, while Guaranty Trust Bank sold 35.62 million shares valued N949.08 million.United Bank for Africa accounted for 25.50 million shares worth N177.20 million, while FBN Holdings transacted 18.61 million shares valued N99.21 million.In all, the total volume of trades increased by 1.38 per cent as investors bought and sold 221.54 million shares worth N4.48 billion exchanged in 3,606 deals.This was in contrast to a turnover of 228.38 million shares valued N2.74 billion transacted in 3,831 deals on Wednesday.(NAN)