By Amaka Ifeakandu
Lagos
Transactions on the floor of Nigerian Stock Exchange (NSE) yesterday returned to bearish trend following loses recorded by capitalised companies. Specifically, the market capitalisation of listed equities declined by N40 billion to N13.421 trillion from N13.461 trillion traded on Monday. Also the NSE All Share Index (ASI) dropped by 120.85 basis points to 40,648.15 poAints from 40,769.00 the previous day.
An analysis of the investment showed that Forte Oil led the losers chart, dropping N2.28 kobo to close at N221.00, Conoil Plc trialed with a loss of N2.65 kobo to close at N50.51 kobo while Cadbury Nigeria Plc, Flour Mills Nigeria Plc and Nigeria Breweries depreciated by N2.51 kobbo, N1.70 kobo and N1.13 kobo respectively to close at N52.50 kobo, N62.3 kobo and N175.00 kobo.
On the contrary, Okomuoil Palm led gainers table growing by N0.73 kobo to close at N33.98 kobo, Betaglass followed with a gain of N0.55 kobo to close at N19.40 kobo while Champion Breweries gained N0.41 kobo to close at N8.70 kobo. Other companies that appreciated in price were International Breweries and Port Land Paint which advanced by N0.25 kobo each to close at N28.41 kobo and N5.34 kobo respectively. Further analysis of the trading indicated that financial service sector led activities during the day, trading 455.669 million shares worth N2.963 billion in 2206 deals.
Banking su sector was most active in the sector with account of 343.096 million shares valued at N2.573 billion in 1348 deals. Diamond Bank Plc was investors delight account for 293.960 million shares worth N1.913 billion in 130 deals, Zenith International exchanged 11.066 million shares cost N268.475 million in 373 deals.
AIICO Insurance of the insurance sector traded 71.221 million shares worth N63.252 million in 28 deals. Conglomerates sector boasted by Transnational Corporation of Nigeria followed in the activities as it sold 29.289 million shares cost N208.073 million in 4481 deals.
