Wednesday at the Nigerian stock exchange: Bears’ Reign Continues

By Ernest Omoarelojie

It was yet another day for Bearish sentiments at the floor of the Nigerian Stock Exchange, NSE, on Wednesday where a total of 213,704,495 shares, made in 3,522 deals, matching a market value of N 3,231,507,812.89, were traded.
Against Tuesday’s outcome, today’s exchange Compared with the previous day, Tuesday, today’s data shows a 7% decline in volume, 18% improvement in turnover but 4% dip in deals. Market capitalization stood at N19.77 trillion.
107 NSE listed equities participated in Wednesday’s trading which ended with 20 gainers and 16 losers. With a 10% share price appreciation, closing at N 1,540.00 per share, Nestle Nigeria occupied the first podium position, followed by Ikeja Hotel with +9.92%. Coming next are Oando and Lasaco Assurance with +9.67% and +9.49% respectively.
On the loser’s side, BOC Gases Nigeria came tops with an end-of-day price depreciation of 10% at N 8.55 per share, followed by Sovereign Trust Insurance with -7.14%. PZ Cussons Nigeria and Regency Alliance Insurance Co came next -7.08% and -6.12%.
Wema Bank recorded the highest volume of 18.3 million of traded shares, followed by Oando, Mutual Benefits Assurance, Mutual Benefit Assurance and Access Bank with 15.62m, 15.1m and 13.74m shares respectively
All-Share Index, NSE-ASI, looked up at 26.53, equivant to 0.71% points to close at 37,907.28, representing a 1-week gain of 0.27%, a 4-week loss of 1.32%, and an overall year-to-date loss of 5.87%. Invariable the service sector, insurance and banking, witnessed more activities while the day’s trading lasted.

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