Don't Miss


Home   >   Nigerian Stock Exchange   >   Equities extend losses in broad sell-off

Equities extend losses in broad sell-off

By on September 6, 2014

Equities on the Nigerian Stock Exchange on Thursday declined for the fourth day this week following a broad-based sell-off by investors that dragged the NSE All Share Index down by 0.46 per cent.

Specifically, the NSE ASI shed 190.3 basis points to close at 41,017.49 basis points with its year-to-date return dropping to -0.75 per cent.

With the exception of the NSE Alternative Securities Market Index, which closed flat at 951.96 basis points, all other market indicators declined on Thursday.

The market capitalisation of the listed equities fell by N63bn or 0.46 per cent, while the NSE Lotus Islamic Index declined by 0.56 per cent or 15.13 basis points to close at 2,680.36 basis points.

All the sectoral indices also declined; the worst hit being the NSE Oil and Gas Index, which shed 1.5 per cent or 6.38 basis points to close at 459.43 basis points.

The NSE Consumer Goods Index and the NSE Insurance Index were down by 0.63 basis points and 0.6 basis points to close at 1,008.27 basis points and 142.58 basis points, respectively, while the NSE Banking Index and the NSE Industrial Index fell by 0.47 per cent and 0.36 per cent to close at 419.66 basis points and 2,655.26 basis points in that order.

A total of 2.53 billion shares worth N38.878bn were traded in 5,304 deals.

Volume was driven by trading in the shares of Ecobank Transnational Incorporated Plc.

With 1.785 billion shares worth N35.667bn traded, ETI accounted for 79.2 per cent and 91.7 per cent of total turnover and value traded on Thursday.

Other equities that recorded high volume turnover on Thursday, according to the Exchange, are Fidelity Bank Plc, Transnational Corporation of Nigeria Plc, Sterling Bank Plc and UBA Capital Plc.

Seventeen stocks recorded price appreciation led by Premier Breweries Plc, which gained 9.92 per cent or 26 kobo to close at N2.88 per share.

Ikeja Hotel Plc and Fidson Healthcare Plc were also among the gainers; they rose by 9.52 per cent and 4.97 per cent to close at 92 kobo per share and 3.59 per share, respectively.

However, 38 equities declined led by Learn Africa Plc, which was down by 9.26 per cent or 15 kobo to close at N1.47 per share.

Royal Express Plc and Eterna Plc shed five per cent and 4.94 per cent to close at 57 kobo and N4.04 per share, respectively.

 

[Punch]