NSE: Market index on free fall, dips by 0.47%

Equities at the Nigerian Stock Exchange (NSE) fell on Thursday with major indicators declining for the third straight session as the All-Share Index shed 0.47 per cent or 182.38 basis points to close at 38,944.62 basis points in contrast to a fall of 0.18 per cent recorded the previous day.

Similarly, the market capitalisation of the listed equities fell by N59bn or 0.47 per cent to close at N12.509tn, compared to a 0.18 per cent decline, which saw it close down at N12.568tn on Wednesday.

Of the sectoral indices, the NSE Oil and Gas Index recorded the highest rise as it added 1.5 per cent to close at 297.55 basis points, up from 293.14 basis points.

On the other hand, the NSE Consumer Goods Index recorded the biggest fall for the day, shedding 1.03 per cent to close at 970.45 basis points, down from 980.58 points the previous day.

On Thursday, 337.464 million shares, worth N3.508bn, were traded in 4,258 deals with 18 equities recording price appreciation and 32 others recording price depreciation.

Cornerstone Insurance Plc led the gainers, rising by eight per cent or four kobo to close at 54 kobo per share.

Forte Oil Plc and May and Baker Plc were up by 6.78 per cent and 4.90 per cent to close at N94.39 and N2.14 per share, respectively, while Pharma Deko Plc and Custodian and Allied Insurance Plc gained 4.67 per cent and 4.11 per cent to close at N1.57 and N2.28 per share in that order.

On the flip side, Flour Mills of Nigeria Plc led the losers, shedding 6.52 per cent or N5.30 to close at N76 per share; followed by Access Bank Plc, which fell by 4.94 per cent or 38 kobo to close at N7.31 per share.

University Press Plc was down by 4.90 per cent or 21 kobo to close at N4.08 per share, while Jos International Breweries Plc and Continental Reinsurance Plc fell by 4.80 per cent and 4.46 per cent to close at N3.77 and N1.07 per share, respectively.