NSE trading reverse to downward trend, indices shed 0.05%

Equity transactions on the Nigerian Stock Exchange (NSE) on Tuesday reversed to negative trend after appreciating for two consecutive days with market indicators depreciating by 0.05 per cent. The market capitalisation depreciated by N5 billion or 0.05 per cent to close at N9.703 trillion against N9.708 trillion achieved on Monday.
Similarly, the All-Share Index recorded depreciation, dropping by 14.27 points or 0.05 per cent to close at 28,248.86 compared to 28,263.13 achieved on Monday. Presco topped the losers’ chart, dropping by N4 to close at N41 per share. ConOil trailed with a loss of N3 to close at N36 per share.
7UP shed N2.05 to close at N142.5, while Ashaka Cement dipped by N1.93 to close at N18.02 and Forte Oil went down by 85k to close at N160.15 per share. Conversely, Guinness recorded the highest price gain to lead the gainers’ table, growing by N4.64 to close at N97.64 per share. Nestle came second with a gain of N1 to close at N826, while Flour Mill appreciated by 96k to close at N2 per share.
Uac-Prop increased by 34k to close at N3.7 and Zenith up by 15k to close at N15.6 per share. In spite of the decrease in equities, the volume of shares traded closed higher as a total of 294.91 million shares valued at N1.41 billion were transacted in 3,142 deals.
This was in contrast with the 249.77 million shares worth N1.96 billion traded in 3,170 deals on Monday. Livestock drove the turnover volume, having accounted for 104.59 million shares valued at N89.95 million.
It was followed by FCMB with a total of 43.92 million worth N46.82 million and UBA sold 20.15 million shares valued at N84.51 million. Dunlop traded 19.94 million shares worth N9.97 million and GTBank transacted 18.66 million shares valued at N466.45 million.