The Nigerian stock market yesterday seems to be running out of steam with a marginal drop of 0.03 per cent.
In summary, lead indicator, NSE-ASI shed 7.09 absolute points, representing a decline of 0.03 per cent to close at 28,027.23 points. Similarly, the market capitalization shed N2 billion to close at N9.62 trillion.
The downturn was imparted by capital depreciation recorded by some highly capitalized stocks, amongst which are Nestle, Wapco, Presco, Flourmil and UAC Property.
Also, market breadth closed negative with 13 gainers and 20 losers. Caverton led the gainers table by 8.57 per cent to close at 76 kobo per share. Seplat followed with a gain of 5 per cent to close at N385.88, while Guinness advanced by 4.92 per cent to close at N79.74 per share.
While Wema Bank went up by 4.84 per cent to close at 65 kobo and Wapic Insurance rose by 4 per cent to close at 52 kobo per share.
On the other hand, UAC Property led the laggards’ table by 9.37 per cent to close at N3.58 per share. ETranzact trailed with a loss of 4.92 per cent to close at N5.41, while Learn Africa declined by 4.76 per cent to close at 60 kobo per share.
Also, Paintcom declined by 4.55 per cent to close at 84 kobo, while FCMB shed by 4.27 per cent to close at N1.12 per share.
Meanwhile, the total volume traded declined by 33.57 per cent to 155.58 million shares, valued at N1.43 billion, and traded in 3,277 deals. Transactions in the shares of Guaranty Trust Bank topped the activity chart with 28.1 million shares valued at N672.80 million. UBA followed with 28.03 million shares worth N119.80 million, while Transcorp traded 14.75 million shares valued at N14.98 million.
Fidelity Bank traded 14.3 million shares worth N12.83 and FCMB transacted 11.55 million shares valued at N13 million.