Nigeria Stock Exchange

Nigerian stocks on Wednesday September 2, took a reverse position from last three sessions’ positive push as the All Share Index (ASI) plunged 354.48 basis points or 1.17 per cent to close at 29,870.86 points as against 1.82 per cent or 540.5 points gain on Tuesday at 30,225.34 points.

Sectoral indices led by the NSE Oil/Gas Index (-4 per cent) consequently ended the day with loses safe for the Alternative Security Index Market that closed flat.

Cutix Plc. led 12 equity gainers as it appreciated by 9.93 per cent or 14 kobo to close at N1.55 per share followed by Berger paints Plc. which gained 4.99 per cent or 43 kobo to close at N9.05 per share, while Ikeja Hotel Plc increased 4.70 per cent or 14 kobo to close at N3.12 per share.

A.G. Leventis Plc rose 4.40 per cent or 4 kobo to close at 95 kobo per share as Vitafoam Plc. added 4.17 per cent or 24 kobo to close at N6 per share.

Conversely, Dangote Sugar Plc continued from a two day losing streak as it led 37 equity losers with a decline of 9.16 per cent or N63 kobo to close at N6.25 per share followed by Forte Oil Plc which dropped 5 per cent or N12.42 to close at N236.08 per share as UACN Plc also lost 5 per cent or N1.75 to close at N33.25 per share.

Seplat Petroleum Plc. depreciated 5 per cent or N12.23 to close at N232.46 per share while Union Bank Nigeria Plc. shed 4.97 per cent or 32 kobo to close at N6.12 per share.

Investors on the NSE ,however, exchanged 439.7 million shares worth N4.5 billion in 4,345 deals decreasing market capitalization by N121.9 billion to close at N10.3 trillion as against N185.9 billion gained yesterday to close at N10.4 trillion.

By Pita Ochai

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