Stock market close 0.04% down

The Nigerian Equities market continued its descent on Wednesday from previous trading day’s decline as the Nigerian Stock Exchange All Share Index (NSE ASI) lost 12.63 points or 0.04 percent to close at 28,236.23 points compared to 14.3 points or 0.05 percent lost previously to close at 28,248.86 points.

Oando Plc led the list of declining stocks as its share price fell 7.71 percent or 41 kobo to close at N4.91 per share, Ashaka Cement Plc followed with a decline of 4.99 percent or 90 kobo to close at N17.12 per share, Betaglas Plc dropped 4.63 percent N1.46 to close at N30.05 per share, Caverton Plc decreased 4.60 percent or 4 kobo to close at 83 kobo per share and Wema Bank Plc recorded a depreciation of 4.35 percent or 3 kobo to close at 66 kobo per share.

Consequently, Market capitalisation closed the day N4.34 billion lower to settle at N9.699 trillion compared to previous closing figure of N9.704 trillion following a loss of N5 billion on Tuesday.

The day’s gainers were topped by Law Union Plc which increased 9.84 percent or 6 kobo to close at 67 kobo per share.

Learn Africa Plc followed with a gain of 8.62 percent or 5 kobo to close at 63 kobo per share. Mobil Oil Plc trailed with a 5 percent or N8.97 appreciation to close at N188.52 per share. Nigerian Aviation Handling Company Plc and Glaxosmithkline Plc improved by  4.94 percent and 4.59 percent respectively to close at N3.40 and N20.50 each.

Market activity as measured by Volume and Value traded, settled at 159.0 million and N1.45 billion respectively compared to 294.9 million units and N1.4 billion traded previously.