The Nigerian equities market recorded another session of decline on Wednesday June 19 which led to the benchmark performance indicator sinking further by 0.15percent.
Following that dismal outing, the stock market has lost 0.91 percent of its value in three days, while year-to-date (ytd), its negative return is -5.27percent.
At the sound of trade closing gong on the Nigerian Stock Exchange (NSE) 9th floor, the market closed with only 21 gainers as against 18 losers.
Forte Oil Plc was the highest gainer, from N31.5 to N34.65, after adding N3.15 or 10percent; while Nestle Nigeria Plc was the highest loser, from N1,420 to N1,400, losing N20 or 1.41percent.
The NSE All Share Index (ASI) closed lower at 29,772.72 points, against preceding day high of 29,818.80points.
The value of listed stocks on the Nigerian Bourse decreased from N13.140 trillion on Tuesday to N13.119trillion on Wednesday, down by N21billion.
In 3,441 deals, stock dealers exchanged 1.233billion units valued at N67.891billion. Forte Oil Plc, Prestige Assurance Plc, GTBank Plc, FBN Holdings Plc, and ETranzact Plc were actively traded stocks.
A total of 970,166,694 units of Forte Oil Plc were exchanged in off market trades at N66.25 in five deals as Nigeria’s billionaire businessman Femi Otedola completed the sale of his stake in the Oil and Gas Company.
The off market deals were negotiated deals between Stanbic IBTC Stockbrokers as buyer while APT Securities and Funds Limited, WSTC Securities Limited and Quantum Zenith Securities Limited were sellers.
Market watchers foresee another session of mixed trading on Thursday, though with a mildly positive bias in the absence of external factors driving the market.
Iheanyi Nwachukwu
