NSE extends losing streak by 0.27% over profit-taking on Thursday

The equities market segment of the Nigerian Stock Exchange (NSE) extended bearish stance at the close of trading on Thursday session with most listed banks share recorded decline.

With a loss of 0.27 per cent by All Share Index to 29,030.93 basis points from 29,110.90basis points it closed on Wednesday, market capitalization was capped at N14.95trillion on Thursday from N14.99 trillion, it closed on Wednesday.

This brings the equities market month-till-date and year-till-date performance to 8.15 per cent 8.15per cent respectively.

Similarly, Market breadth recorded 10 advancers and 21decliners. Sectoral Indices closed southward across sectors save for NSE Banking Index and NSE Insurance index leaving NSE ASeM flat.

Market activity witnessed a volume of trades dropped further at the close of today’s trading session at approximately 27million units; a 88.69 per cent decrease from 242million units traded previously.

Value on the other hand recorded 98.09per cent increase from N4.59billion in previous trading session to N9.09billion on Thursday.

Cornerstone Insurance plc topped the gainers’ chart on Thursday, closing at 9.26 per cent from N0.54 to N0.59 while NEM insurance plc advanced by 9.09 per cent to N2.40 from N2.20 it closed on Wednesday., CHI plc also gained 8.33 per cent from N0.36 to N0.39 while Neimeth plc added 7.84 per cent to N0.55 from N0.51 it closed on Wednesday.

On the losers chart, UACN plc dropped by 10 per cent to N9.00 from N10.00 while Union bank of Nigeria plc depreciated by 9.09 per cent to N0.20 from N0.22. Transcorp plc also down by 8.82 per cent to N0.93 from N1.02 as ABC Transport plc depreciated by 8.11 per cent to N0.34 per share on Thursday.

In order of appearance Guaranty Trust Bank plc (GTBank), MTN Nigeria plc, United Bank for Africa plc (UBA), Zenith Bank plc, and Unilever Nigeria plc ended the trading session as top performers in terms of volume, while MTN Nigeria, GTBank, Zenith Bank, Dangote Cement Plc & Unilever ended as top performers in terms of value traded.

At the close of today’s trading session, The NASD-OTC market characterized by over the counter transaction recorded a depth from four stocks with a total volume of 154,625 units worth N3,307,459 million in 13 deals.