Bearish Trend Persists As Profit Taking Activities Continue On Nigerian Stock Market

Market pulse on the Nigerian Stock Exchange (NSE) Tuesday, July 14th, 2015 was bearish as the stock market lost today due to intense sell pressure and profit taking. The Street Journal reports that this was further highlighted by the negative performances from the NSE sub sectors (Banking, Oil and Gas and Consumer Goods) save the Insurance sector. Trading activities decreased in volume as N277.091 million shares worth N4.46 billion in 3,643 deals exchanged hands today. This is a decrease from as N264.36 million shares worth N5.47 billion in 3,089 deals carried out on Friday. Topping in volume terms was Zenith Bank Plc., Transnational Corporation of Nigeria Plc. and Access Plc, while Zenith Bank Plc and NB Plc ended trading as the most active stocks in value terms.

 The All Share Index (NSEASI) closed negative with a 0.81% (-255.30) decrease to 31,372.90 from 31,628.20 the previous trading day. Market Capitalization depreciated in tandem to N10.71 trillion from N10.80 trillion the prior trading day. The BGL 50 Index also followed suit with a 0.82% decrease to close at 130.79 from 131.87 the previous trading day, while its market capitalization stood at N9.88 trillion from N9.96 trillion the previous trading day.

stockexchange-floor

According to the market summary made available to the Street Journal by BGL Plc, a total number of 8 stocks gained on the bourse today while 36 stocks declined, leaving 53 stocks unchanged. On the gainers’ chart,  Mobil Plc. led with a gain of of 5.00 % to close at N154.35. It was followed by Caverton Plc. with a gain of 3.94% to close at N3.69 per share. Others on the gainers list include ETI, UBA Plc and Linkage Plc. On the decliners’ list, Transcorp Plc. led with a loss of 8.80% to close at N2.28 per share.  It was followed by Lear Africa Plc. with a loss of 8.80% to close at N1.14 per share. Others on the losers list include; Presco Plc, Dang Flour Plc and NASCON.

Mobil Oil Nig Plc. emerged the toast of investors as it topped the BGL 50 Index gainers’ list with a gain of 5.00% to close at N154.35 per share. It was followed by Ecobank Transnational Incorporated with a gain of 2.69% to close at N21.00 per share. Others on the gainers list include; United Bank For Africa Plc, Guinness Nig Plc and Dangote Cement Plc. On the decliners’ list, Transcorp Plc. led with a loss of 8.80% to close at N2.28 per share. It was followed by Honeywell Presco Plc. with a loss of 5.00% to close at N32.30 per share. Others on the losers list include; National Salt Co. Nig. Plc, Dangote Sugar Refinery Plc and Oando Plc.

 

Author: News Editor

2787 stories / Browse all stories

Related Stories »

Provide your email below, and we will notify you the latest news freely.

sjdating    

calendar »