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Trading on the floor of the Nigerian Stock Exchange (NSE) continued with its poor run yesterday as market capitalisation dropped by N417 billion to close at N13.015 trillion from N13.432 trillion it opened the week.
Also, the NSE All-Share Index depreciated by 1,315.81 basis points or 3.14 per cent in the last four days to close at 40,601.74 point yesterday.
Meanwhile, all the market indicators depreciated during the period as the NSE Banking, Insurance, NSE 30, NSE Consumer Goods, NSE Oil/Gas, NSE Lotus Islamic and NSE Industrial Indices decreased by 6.24 per cent, 2.80 per cent, 3.69 per cent, 2.88 per cent, 11.63 per cent, 1.97 per cent and 2.15 per cent respectively. While the NSE-ASeM closed flat.
Although, market capitalisation and NSE All Share Index appreciated by N121 billion and 378.31 points, respectively, during the same period of last year, representing 1.20 per cent increase.
Speaking with Daily Trust on phone, a stockbroker Mr. Tunde Oyediran said the stability in foreign exchange was part of the factors dragging Nigeria market down.
According to him, foreign investors are pulling out of our market because there was stimulation in developed market that led to the stability.
He also believed that that the decision of Central Bank of Nigeria (CBN), to increase Cash Reserve Ratio (CRR) hampered market improvement.
He, however, averred that the market would soon become stable.
“By the time that the companies begin to release their results, things will change,” he pointed out.
At the end of trading section yesterday, a turnover of 343 million shares, worth N4.035 billion in 5,415 deals, were traded by investors on the floor of the exchange in contrast to a total of 259 million shares, valued at N2.918 billion, that exchanged hands on Wednesday’s 109 deals.
However, summary of price changes at the end of trading activities yesterday close lower as 16 equities appreciated in prices higher than 11 equities the previous day. Also, 37 equities depreciated in prices higher than 23 of the preceding day.
Trans Nationwide Express Plc led on the gainers chart with N0.22 kobo or 9.65 per cent to close at N2.50 kobo. It was followed by African Prudential Registrar Plc with gain of N0.23 kobo or 8.19 per cent to close at N3.04 kobo and Costain West Africa Plc gain of N0.17 kobo or 7.80 per cent to close at N2.35 kobo.
Oando Plc led on the loser’s chart with N2.04 kobo or 9.71 per cent to close at N18.98 kobo, it was followed by Livestock Feed Plc with N0.38 kobo loss to close at N3.85 kobo and May and Baker Plc lost N0.16 kobo to close at N0.16 kobo.
Meanwhile, all the market indicators depreciated during the period as the NSE Banking, Insurance, NSE 30, NSE Consumer Goods, NSE Oil/Gas, NSE Lotus Islamic and NSE Industrial Indices decreased by 6.24 per cent, 2.80 per cent, 3.69 per cent, 2.88 per cent, 11.63 per cent, 1.97 per cent and 2.15 per cent respectively. While the NSE-ASeM closed flat.
Although, market capitalisation and NSE All Share Index appreciated by N121 billion and 378.31 points, respectively, during the same period of last year, representing 1.20 per cent increase.
Speaking with Daily Trust on phone, a stockbroker Mr. Tunde Oyediran said the stability in foreign exchange was part of the factors dragging Nigeria market down.
According to him, foreign investors are pulling out of our market because there was stimulation in developed market that led to the stability.
He also believed that that the decision of Central Bank of Nigeria (CBN), to increase Cash Reserve Ratio (CRR) hampered market improvement.
He, however, averred that the market would soon become stable.
“By the time that the companies begin to release their results, things will change,” he pointed out.
At the end of trading section yesterday, a turnover of 343 million shares, worth N4.035 billion in 5,415 deals, were traded by investors on the floor of the exchange in contrast to a total of 259 million shares, valued at N2.918 billion, that exchanged hands on Wednesday’s 109 deals.
However, summary of price changes at the end of trading activities yesterday close lower as 16 equities appreciated in prices higher than 11 equities the previous day. Also, 37 equities depreciated in prices higher than 23 of the preceding day.
Trans Nationwide Express Plc led on the gainers chart with N0.22 kobo or 9.65 per cent to close at N2.50 kobo. It was followed by African Prudential Registrar Plc with gain of N0.23 kobo or 8.19 per cent to close at N3.04 kobo and Costain West Africa Plc gain of N0.17 kobo or 7.80 per cent to close at N2.35 kobo.
Oando Plc led on the loser’s chart with N2.04 kobo or 9.71 per cent to close at N18.98 kobo, it was followed by Livestock Feed Plc with N0.38 kobo loss to close at N3.85 kobo and May and Baker Plc lost N0.16 kobo to close at N0.16 kobo.
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