By Modupe Gbadeyanka
The Nigerian stock market pointed south at the close of transactions on Thursday, reversing the two-day gain at the Nigerian Stock Exchange (NSE).
Today’s loss was influenced by the desire of investors to quickly make gains from the two bullish trading sessions on the floor of the NSE on Tuesday and Wednesday.
Business Post reports that the stock market went down by 0.29 percent despite the impressive third quarter earnings recorded by companies, which released their results today.
The All-Share Index (ASI) lost 105.37 points to settle at 36,517.48 points, while the market capitalisation depreciated by N36.5 billion to close at N12.6 trillion.
The market breadth closed negative today with 27 stocks depreciating against the 19 equities that appreciated.
The losers’ log was led by Nigerian Breweries, which went down by N6 to close at N155 per share.
It was followed by International Breweries, which depreciated by N2.72k to finish at N51.78k per share, and Forte Oil, which fell by N2.12k to end at N40.30k per share.
PZ Cussons declined by N1 to close at N23 per share, while CCNN crashed by 47k to finish at N9.70k per share.
On the flip side, NASCON gained N1.55k to close at N16.77k per share, while Presco moved up by N1.50k to finish at N66.50k per share.
Lafarge appreciated by N1.46k to end at N52 per share, Dangote Sugar grew by N1.28k to settle at N15.84k per share, and Dangote Flour added 76k to its share price to finish at N8.26k per share.
Our correspondent reports that at the close of trading on the floor of the NSE on Thursday, the volume of shares exchanged by investors closed higher, while the value depreciated.
A total of 356.8 million shares worth N4.2 billion were traded today, compared with 333 million shares valued at N4.7 billion transacted yesterday by investors.
Interest in financial stocks persisted today and like yesterday, UBA sold the highest number of shares today, transacting 90.5 million shares worth N842 million.
Fidelity Bank traded 37 million shares valued at N62.4 million, and Custodian & Allied sold 35.5 million shares for N142 million.
FCMB traded 31.7 million shares at N33.3 million, while Access Bank exchanged 25.3 million shares at N249.6 million.
Dipo Olowookere