ASI down 0.17% as Forte Oil top losers

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Equities market of the Nigerian Stock Exchange (NSE) closed on Tuesday with a decline of 0.17 per cent as investors continued to take profit.

leading indicator, the All Share Index (ASI) dropped by 45.69 basis points to close at 25.540.87 basis points on Tuesday, while the market capitalization dipped N15.7 billion to close at N9.132 trillion.

Forte Oil led the list of losers, recording a 9.74 per cent decline for the third consecutive day to close at N94.69 per share, Interlink followed with a drop of five per cent to close at N3.80 per share, while Vitafoam declined by 4.94 per cent to close at N2.31 per share. United Capital lost 4.88 per cent to close at N2.73 per share, and Transnationwide Express Plc declined 4.67 percent to close at N1.02 per share.

Conversely, Nascon Allied Industries led the day’s gainers with 5.26 per cent to close at N7.60 per share, NEM followed with a 5 percent growth to close at 84 kobo per share while Julius Berger added 4.98 per cent to close at 38.58 per share. UAC-Prop and Diamond Bank gained 4.81 per cent and 4.65 per cent each to close at N2.18 and 90 kobo per share respectively.

Market transactions executed in 3,271 deals and measured by volume continued its descent as volume traded dropped five percent to settle at 248.7 million units as against 262.9 million units traded previously, while value traded appreciated by 77 percent to close at N3.103 billion from N1.75 billion recorded in previous trading session.

Top five traded stocks in the course of the day were United Bank for Africa (UBA) with 75.5 million units of shares valued at N345.2 million. FBN Holdings followed with 29.1 million shares worth N99.8 million while Zenith Bank came third with 25.6 million shares worth N369.9 million.

Guaranty emerged the day’s fourth most traded stock with 17.5 million shares worth N436.8 million while Sterling Bank came fifth having traded 15.7 million shares amounting to N11.3 million.

 

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