Home Markets Stock market index dips 0.46%

Stock market index dips 0.46%


Trading on the Nigerian Stock Exchange (NSE) maintained the previous day’s outlook as the bears pull persists with the All Share Index shedding 46 basis points, leaving the Year-to-Date (YtD) returns at 8.50 per cent.

Similarly, market capitalisation dropped to N14.89 billion at the close of trading session on Wednesday, just as market breadth closed negative with 19 gainers against 35 losers.

Indices closed in red across sectors except the Banking sector which took a marginal position, owing to gains in Fidelity Bank and FCMB Holdings.

To take the lead on the gainer’s chart, Fidelity gained 7.76 per cent to its share value, followed by Glaxosmithkline Nigeria Plc which gained five per cent to its value. Dangote Flour Plc also advanced by five per cent, while Guinness Nigeria Plc followed marginally with 4.79 per cent increase.

On the other hand, the loser’s chart was topped by Cadbury Nigeria Plc, as its stocks depreciated by 9.63 per cent, trailed by Unity Kapital Insurance Plc which lost 7.69 per cent of its value. Mansard Assurance Plc made the list having depreciated 7.41 per cent, while WAPCO lost 6.55 per cent and Unity Bank Plc declined by 6.11 per cent.

However, transaction level in terms of volume and value increased by 19.49 per cent and 44.03 per cent respectively, as Japaul, Zenith Bank, Fidelity Bank top the activities chart in terms of volume while Dangote Cement, Guaranty Trust Bank. Nigerian Breweries topped the trade value chart.