The Nigerian equity market yesterday tumbled for the third consecutive trading day this week as sell pressure continued, thereby producing 25 losers and 15 gainers. Investors have continued to offload their shares in spite of low prices of stocks.
Consequently, the All- Share Index dipped 131.84 basis points or 0.47 per cent to close at 28,219.44 as against 28,351.28 recorded the previous day while the market capitalisation of equities depreciated by N46 billion or 0.47 per cent as market sentiment remained in red.
Meanwhile, a turnover of 143.6 million shares worth N1.4 billion in 2,406 deals was recorded in the day’s trading. The premium sub sector was the most active during the day (measured by turnover volume); with 55.1 million shares worth N341.5 million exchanged by investors in 597 deals. Volume in the banking sub-sector was largely driven by activities in the shares of FBNH Plc and Zenith Bank Plc.
Caverton Nigeria Plc followed with a gain of 4.62 per cent to close at N2.49 while Diamond Bank Plc gained 3.59 per cent to close at N2.60 per share. On the flip side, shares of Dangote Flour Mills Plc led the losers with a loss of 5.50 per cent to close at N2.06 per share. Transcorp Plc plunged 5.32 per cent to close at N1.78 while Forte Oil Plc dropped five per cent to close at N275.50 per share.
