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NSE index slips below 28,000 basis points

By on February 15, 2015

Sustained selling pressure on Thursday caused 37 stocks to decline, sending the Nigerian Stock Exchange All-Share Index below 28,000 basis points.

Specifically, the NSE ASI retreated by 785.5 basis points or 2.73 per cent to 27,935.77 basis points, as against the decline of 1.39 per cent it recorded in the previous session to close at 28,721.27 basis points.

As a result, its year-to-date return dipped to -19.39 per cent.

In the same vein, the market capitalisation of the listed equities was down by 2.73 per cent or N262bn from N9.583tn to N9.231tn.

Apart from the NSE Alternative Market Securities Index, which close flat at 1, 213.36 basis points, all the other market indicators fell on Thursday.

For instance, the NSE 30 Index, which tracks the performance of the top 30 stocks on the Exchange, shed 2.72 per cent to close at 1,254.99 basis points, while the NSE Banking Index was down by 2.5 per cent to close at 286.24 basis points.

The NSE Industrial Index, which declined by 4.15 per cent to close at 1,818.44 basis points, recorded the biggest drop for the day.

Thursday’s losses were recorded after investors exchanged 411.564 million shares valued at N4.483bn in 3,491 deals.

Flour Mills of Nigeria Plc was the biggest loser for the day, shedding 8.23 per cent or N2.51 to close at N28 per share.

It was followed by Guaranty Trust Bank Plc and Dangote Sugar Refinery Plc, which were down by 5.55 per cent and five per cent to close at N17.86 and N6.46 per share.

Diamond Bank Plc, AIICO Insurance Plc and Total Nigeria Plc all declined by five per cent to close at N3.61, four kobo and N137.28 per share in that order.

Also among the losers were Champion Breweries Plc and Access Bank with 4.96 per cent and 4.93 per cent share price depreciation to close at N5.94 per share and N5.59 per share.

Big cap losers for the day included Dangote Cement Plc (4.61 per cent), Guinness Nigeria Plc (-4.00 per cent), FBN Holdings Plc (-3.87 per cent), Nestle Nigeria Plc (-2.42 per cent) and Nigerian Breweries Plc (2.12 per cent).

On the other hand, only five stocks appreciated on Thursday.

They were led by Cement Company of Northern Nigeria Plc, which gained 4.91 per cent to close at N9.82 per share, and Airline Services and Logistics Plc, which was up by 4.84 per cent to close at N1.95 per share.

 

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