NSE indicators slide 0.05% – agric and oil stocks drag index lower


Indicators declined 0.05% at the Nigerian Stock Exchange on Tuesday with 18 equities appreciating  while 15 remain unchanged.

Agricultural sector player,  Presco led the decliners’ chart  (-8.89 percent, N4) followed by Conoil (-7.69 percent, N3). The oil and gas player similarly shed  8.24 percent (N3.5) on Monday. 7-UP trailed dropping  -1.42 percent (N2.05) repeating the downward performance on Monday (-3.63 percent, N45.45) while cement manufacturer Ashaka  slid  -9.67 percent (N1.93). Forte Oil trailed, sliding -0.53 percent (N0.85).

The melange of agro, oil, industrial and consumer goods companies are primarily ascribed to the slide in the NSE-ASI which was 0.05 percent to close at 28,248.86  as opposed to 28,263.16 the previous day.

3,142 deals were consummated (3,170 the previous day) with a volume of 294.909 million shares (249.7 million previous day) traded at a value of N 1.413 billion (N 1.959 billion previous day).  Market capitalization came to reside at – 9.703 trillion  down from 9.708 trillion the previous day.

Banking industry players once again were most active (by volume) on Tuesday, occupying the first 6 positions – UBA, Zenith, Guaranty, FBNH , FCMB and  Access respectively. Cumulatively, a total of 107.576 million  shares of their shares were traded at a value of N 802.468 million.

The gainers’ chart was also a bevy of sectors. Guinness led with  a gain of 4.99percent (N 4.64) followed by  Nestle (+0.12 percent, N1),  Flour Mill (+, 4.56 percent, N0.96), UAC Property Development (+10 percent, N0.34) and Zenith Bank (+0.97 percent, N0.1).

Analysis by sector (volume of shares traded) shows the Financial Services topped by  FCMB with  43.923 million, Consumer Goods by Dunlop 19.944 million and Oil and Gas once again by Oando with 1.524 million (3.586 million previous day).


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