Market index declines by 0.18%

The equities segment of the Nigerian Stock Exchange closed on a negative note on Wednesday after 43 equities recorded losses.

The losses caused the NSE All-Share Index to decline by 0.18 per cent or 72 basis points to close at 39,127.41 in contrast to the 0.92 per cent it shed the previous day to close at 39,199.41.

Also, the market capitalisation of the listed equities to fall by N23bn or 0.18 per cent to close at N12.568tn, as against a 0.92 per cent depreciation on Tuesday.

The sectoral indices did not fare any better as six of the eight indices dipped on Tuesday.

The NSE Oil and Gas Index recorded the biggest fall with a 0.92 per cent loss, which saw it close at 293.14 basis points. The other indices which fell are the NSE 30 Index (0.1 per cent), the NSE Banking Index (0.33 per cent), the NSE Insurance Index (0.26 per cent), the NSE Lotuse Islamic Index (0.70 per cent) and the NSE Industrial Index (0.70 per cent).

The NSE Consumer Goods Index, however, rose by 0.72 per cent to close at 980.58 basis points, up from 973.54 basis points, while the NSE Alternative Securities Market Index closed flat at 956.72 basis points.

A total of 23 stocks recorded gains on Wednesday in contrast to 43 losers.

Transnational Corporation of Nigeria Plc was the day's top gainer. Its shares rose by 9.97 per cent or 36 kobo to close at N3.97 per share.

It was followed by Paints and Coatings Manufacturers Plc, which gained 4.97 per cent or nine kobo to close at N1.90 per share.

Aiico Insurance Plc was up by 4.94 per cent or four kobo to close at 85 kobo per share, while Mobil Oil Nigeria Plc rose by 4.86 per cent or N5.84 to close at N125.98 per share.

NCR Nigeria Plc led the losers' table, shedding 4.99 per cent or 84 kobo to close at N15.99 per share; followed by Academy Press Plc with a 4.97 per cent or nine kobo loss to close at N1.72 per share.

SCOA Nigeria Plc and Jos International Breweries Plc fell by 4.89 per cent and 4.81 per cent to close at N5.06 and N3.96 respectively, while Mansard Insurance Plc shed 4.78 per cent each to close at N2.19 per share.

In all, 884.273 million shares worth N4.4778bn were traded in 4,956 deals on Wednesday.