Equity trading on the floor of Nigerian Stock Exchange (NSE) on Tuesday closed negative as the benchmark index of the All Share Index (ASI) declined by 0.17 percent to close at 32,711.65 points from the previous close of 32,766.37 points on Friday.
The bourse commenced trading week on a sluggish trend a day after the October 1 Independence holiday to commemorate the nation’s 58th Independent Day celebration.
The market capitalisation dropped by 0.17 percent to close at N11.942 trillion from the previous close of N11.962 trillion, thereby shedding about N20 billion
This is even as the volume and value of traded stocks grew by 0.03 percent and 19.89 percent to close at 184.59 million units and N3.38billion respectively.
However, 15 stocks closed positive against 17 stocks that closed negative, bringing the market breadth to a negative round off.
As a result, Forte Oil led other percentage gainers, gaining 6.73 percent to close at N21.4 from the previous close of N20.05 per share.
Fidelity Bank and Livestock Feeds grew 5.38 percent and 5.26 percent respectively among others on the gainers’ chart.
Conversely, AG Leventis and First Aluminum top the losers’ chart, both shedding 9.76 percent of their share prices. UAC Properties and Union Diagnostics also shed 9.74 percent and 8.82 percent respectively among others on the losers’ chart.
At the close of trading for the day, Guaranty Trust Bank traded about 29.87 million units of its shares in 214 deals, valued at about N1.09 billion to emerge the most patronized stocks and investors delight.
Analyst at Apt Securities and Funds Limited expects the Bourse to continue negative band as bearish trend continues. According to the finance and investment analyst, we therefore expect marked profiteering tendencies by short term players to moderate the index further.