Trading Crawls Back Into Bear Mode As NSE Index Drops 0.06%

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Transactions on the floor of the  Nigerian Stock Exchange NSE, returned South on Wednesday, April 27, after a brief turn to the north on Tuesday, April 26.

The All-Share Index shed 14.57 points to close at 24,809.29 points compared with the increase of 58.76 points to close at 24,823.86 points yesterday.

Similarly, market capitalization lost N5.0 billion to close at N8.53 trillion compared to a gain of N20.2 billion to close at N8.54 trillion recorded previously.

FBN Holdings led the days 19 gainers with a gain of 5.31% or 18 kobo to close at N3.57 per share. Unilever followed by 4.99% or N1.46 to close at N30.71 per share while Honeywell Flour Mills Plc and Diamond Bank Plc added 4.93% or 7 kobo each to close at N1.49 per share respectively. Eterna Plc advanced by 4.90% or 10 kobo to close at N2.14 per share.

Conversely, Glaxosmithkline Plc led the day’s 22 losers with a loss of 9.69% or N2.42 to close at N22.55 per share, trailed by UAC Property Plc. which fell 9.44% or 42 kobo to close at N4.03 per share, while Forte Oil Plc dipped 5% or N12.5 to close at N237.5 per share.

Nigerian Aviation Handling Company of Nigeria Plc dropped 5% or 20 kobo to close at N3.80 per share as Total Plc dropped by 4.72% or N6.94 to close at N140.06 per share.

Following an impressive full year and first quarter performance, Access Bank for the third consecutive day led the day’s top traders, accounting for 102.3 million shares valued at N398.9 million, followed by FBN Holdings which exchanged a total of 83.1 million shares worth N283.7 million, while UBA sold 14.9 million shares worth N50.5 million.

Wema and FCMB also traded 9.79 million shares and 7.58 million shares worth N7.2 million and N7.6 million respectively.

In all, investors on the floor of the exchange traded a total of 285.3 million shares worth N1.35 billion in 3,083 deals.

(BIZWATCH)

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