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Nigerian Stock Exchange Watch: Activity Levels Tank as Market Drops 0.9%

By on March 26, 2012

Negative sentiment dominated the market today as the All Share Index fell 90 points to close at 21,000.15.

Selling pressure drove the prices of majority of the banking counters down as only two regional banks, Wema (+0.02%) and Unity (+0.01%) recorded any gain.

The Banking sub sector retreated 1.29%.

The price of Union Bank fell 0.17% even as the bank released less than dismal numbers in its Financial Statements earlier today, reporting a loss of N 62 billion in the third quarter of 2011.

The Insurance sub-sector closed up 1.35% due to investor appetite for GTAssure and Continental Reinsurance.

The Consumer Goods and Oil and Gas sector also declined by 0.79% and 1.02% respectively.

The volume of shares traded (261 million) were up a marginal 2% over the last trading session even as their value N 1.9 billion was 28% less than the last trading session.

The market capitalization of the bourse stands at N 6.7 trillion and its year-to-date performance is +1.3%.

The top 5 trades today in terms of price appreciation were:

The top 5 stocks trailing the market were:

Leading the activity charts were: