5th May, 2015
Transactions on the Nigerian Stock Exchange (NSE) for the second consecutive day in the week closed on a negative note, cumulatively shedding 0.14 per cent of its value.
NAN reports that the NSE index on Tuesday closed lower at 34,600.42 points, compared with the 34,649.38 points posted on Monday.
The market capitalisation which opened at N11.767 trillion, lost N17 billion or 0.14 per cent, to close at N11.750 trillion.
Some market analysts attributed the persistent downward trend to profit taking by investors, who were taking advantage of price increase recorded by some equities.
They also linked the development to the “wait and see” attitude of investors, due to the forthcoming transition programme, to usher in a new administration.
NAN reports that Nestle topped the laggards’ table, declining by N14.25 to close at N935.75 per share.
Nigerian Breweries came share price also lost N1 to close at N157, while Guinness also lost N1 to close at N169 per share.
Cement Company of Northern Nigeria followed with a loss of 58k to close at N11, while Mobil Oil shed 50k to close at N150 per share.
On the other hand, Total led the gainers’ table, appreciating by N7.07, to close at N157.40 per share.
ConOil share price grew by N1.81 to close at N38.02, while Ecobank Transnational grew by N1.06 to close at N22.28 per share.
Lafarge Wapco also appreciated by N1 to close at N95, while the Vitafoam share price went up by 53k to close at N5.85 per share.
Overall, investors bought and sold 245.40 million shares worth N4.25 billion in 4,848 deals.
The market volume was against the 324.48 million shares valued N6.42 billion traded in 4,845 deals on Monday.
United Bank for Africa, for the second consecutive day, emerged the most-active, exchanging 40.59 million shares worth N211.05 million.
It was trailed by Access Bank with 29.33 million shares valued N176.01 million, while Zenith Bank accounted for 18.09 million shares worth N386.56 million.
Sterling Bank sold 15.28 million shares valued N32.73 million, while GT Bank traded 14.96 million shares worth N429.99 million.