Stock Market: Investors’ Appetite Wanes Further As Index Declines By 1.02%

Trading activities on the Nigerian stock exchange increased by 8.59% as investors bought 420.01 million shares worth N4.61 billion, in 5,497.00 deals, compared to 386.77 million shares worth N4.79 billion, in 5,100.00 deals exchanged on Tuesday. FBNH Plc, Transcorp Plc and Ikeja Hotel Plc were the most actively traded stocks on the exchange today in terms of volume, while FBNH Plc and Zenith Bank Plc topped in terms of value.

The Nigerian Stock Exchanges-All Share Index depreciated by 1.02% (-403.24) to close at 39,278.47 from 39,681.71 attained on Tuesday. Market capitalisation also decreased to 12.96 trillion from N13.10 trillion the previous trading day. The Thisday BGL 50 Index also followed suit with a 1.02% loss to close at 169.01 from 170.84, while the market capitalisation stood at N12.19 trillion from N12.32 trillion recorded on Tuesday.

A total number of 8 stocks gained on the bourse today while 41 stocks declined leaving 63 stocks unchanged. Forte Oil Plc emerged the toast of investors as it appreciated by 4.31% to close at N218.00 kobo, followed by UPL Plc with a 3.76% gain to close at N4.14. Others on the gainers chart include Zenith Bank Plc, Mansard Insurance and Mutual Benefits Assurance Plc. On the flip side FBNH Plc topped the losers chart with 6.47% declines to close at N11.28 followed by Nascon Plc which declined by 5.49% to close at N8.60 kobo. Others on the losers table include Oando Plc, Ikeja Hotel Plc and UBA Plc.

Topping the chart amongst the BGL 50 stocks was Forte Oil Plc which appreciated by 4.31% to close at N218.00 kobo, followed by Zenith Bank Plc with a 3.37% gain to close at N22.10. Others on the gainers chart include Mansard Insurance Plc, International Breweries Plc and Sterling Bank Plc. On the flip side FBNH Plc Ltd topped the losers chart with 6.47% decline to close at N11.28 followed by Nascon Plc which declined by 5.49% to close at N8.60 kobo. Others on the losers table include; Oando Plc, UBA Plc and Dangote Sugar Refinery Plc.

Forte Oil Plc releases it Q3 released its Q3 2014, showing a 33.06% increase in Revenue from N92.12 billion to N122.58 billion. Moreover, profit before tax increased by 61.61% from N3.21 billion to N5.20 billion while profit after tax increased by 46.72% from N2.73 billion to N4.01 billion

Author: News Editor

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