NSE: Bearish trading persists as index declines by 0.28%

By The Citizen
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Equities trading at the Nigerian Stock Exchange (NSE) on Tuesday closed on a bearish margin with the major market indicators declining for the fourth straight session.

The All Share Index fell by 0.28 per cent to close at 42,664.98 basis points, as against the 0.25 per cent decline it recorded on Monday to close at 42,784.30 basis points.

Also, the market capitalisation of the listed equities declined by 0.28 per cent or N40bn from N14.127tn Monday's close to N14.087tn on Tuesday.

The NSE 30 Index, which tracks the performance of the top 30 companies on the Exchange in terms of capitalisation was also down.

It fell by 3.13 basis points or 0.16 per cent from 1,944.33 basis points to 1,941.20 basis points.

A review of the five sectoral indices showed that NSE Oil and Gas Index recorded the best performance with the NSE Industrial Index declining the most.

While the Oil and Gas Index rose by 0.83 per cent to close at 474.16 basis points, the Industrial Index fell by 0.49 per cent to close at 2,756.85 basis points.

A total of 25 stocks recorded price appreciation on Tuesday, while 30 equities recorded price depreciation.

Mobil Nigeria Plc led the gainers, rising by five per cent or N8.51 to close at N178.84 per share. Total Nigeria Plc and Cement Company of Northern Nigeria Plc followed, gaining 4.99 per cent and 4.98 per cent to close at N195.50 and N12.64 per share, respectively.

Also, Caverton Offshore Support Group Plc rose by 4.53 per cent or 29 kobo to close at N6.99 per share, while AG Leventis Plc appreciated by 4.32 per cent or six kobo to close at N1.45 per share.

Wema Bank Plc topped the losers after it fell by 4.96 per cent or six kobo to close at N1.15 per share.

Airline Services and Logistics Company Plc shed 4.93 per cent or 11 kobo to close at N2.12 per share, while International Breweries Plc fell by 4.92 per cent or N1.45 to close at N28.05 per share.