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NSE transactions drop in volume and value terms

By on September 25, 2014

Equity transactions on the Nigerian Stock Exchange (NSE) on Thursday dropped both in volume and value terms.

The News Agency of Nigeria (NAN) reports that some fnancial analysts attributed the drop in transactions to sell pressure and the forthcoming Muslim celebration.

They said that investors were saving their money in preparation for the festival.

The All-Share Index declined by 29.32 points or 0.07 per cent to close at 40,780.00 against 40,809.32 posted on Wednesday.

The market capitalisation, which opened at N13.475 trillion, also lost N10 billion or 0.07 per cent to close at N13.465 trillion due to price losses by some blue chips.

Similarly, the volume of shares traded decreased by 36.15 per cent as total of 273.113 million shares worth N4.62 billion were traded by investors in 4,330 deals.

This was against the 427.766 million shares valued at N77.90 billion traded in 4,342 deals on Wednesday.

Lafarge Wapco led the losers’ chart with a loss of N1.51 to close at N126.99 per share.

Dangote Cement came second with N1.02 to close at N223.98, while PZ Cussons went down by N1 to close at N32.25 per share.

Conoil lost 98k to close at N47.01, while Access Bank dipped by 83k to close at N8.78 per share.

Conversely, Total Oil topped the gainers’ chart, gaining N6.47 to close at N179 per share.

Nestle garnered N5 to close at N1, 055, while Guinness and Forte Oil upped by N3 each to close at N183 and N222 per share, respectively.

International Breweries rose by N1.51 to close at N30.01 per share.

NAN reports that Transcorp emerged the most traded stock, accounting for 51.18 million shares worth N2976.667 million in 283 deals.

Access Bank sold 39.52 million shares valued at N353.03 million in 437 deals, while International Breweries sold 36.22 million shares valued at N1.09 billion in 72 deals. (NAN)