Equity trading on the Nigerian Stock Exchange closed south on Thursday as All share Index (ASI) dropped 477.09 basis points or 1.6 per cent to close at 29,393.77 points as against 354.48 points or 1.17 per cent lost yesterday to close at 29,870.86 points.
Market Capitalization similarly lost N164.1 billion to close at N10.11 trillion as against yesterday’s decline of N121.9 billion to close at N10.3 trillion
Eight of 11 Sectoral indices led by the NSE Premium and Industrial Index (-4 per cent ) also closed negative, while the NSE Pension and Banking Index recorded a 0.3 per cent and 0.1 per cent increase respectively. The Alternative Security Index Market that closed flat.
Market breadth showed Vono Products Plc led 24 equity gainers while Dangote Cement topped 23 equity losers.
Vono Products Plc appreciated by 9.28 per cent or 9 kobo to close at N1.06 per share followed by Trans-Nationwide Express Plc. gain of 7.14 per cent or 7 kobo to close at N1.05 per share, while Stanbic Plc increased 5.45 per cent or N1.20 to close at N23.20 per share.
Transcorp Plc rose 5.02 per cent or 11 kobo to close at N2.30 per share as International Breweries Plc. added 5 per cent or 85 kobo to close at N17.86 per share.
On the other hand Dangote Cement Plc following its price slash announcement of its 3X cement product, dropped 5 per cent or N8.70 to close at N165.30 per share followed by Flour mill Plc which lost 5 per cent or N1.16 to close at N22.06 per share as PZ Plc also lost 5 per cent or N1.33 to close at N25.28 per share.
Northern Nig Flour Mills Plc. depreciated 4.97 per cent or 52 kobo to close at N9.95 per share while Africa Prudential Registrars Plc. shed 4.96 per cent or 13 kobo to close at N2.49 per share. Seplat Petroleum Plc and Nestle Plc were also recorded losses of 3.12 per cent or N7.25 and 1.17 per cent or N9.79 respectively.
In 3,733 deals, total quantity of equity traded were 273.7 million shares amounting to N2.9 billion.
By Pita Ochai