Activities on the floor of the Nigerian Stock Exchange continued to receive a boost, as the market attracts investor’s patronage on Wednesday. The market All share Index and capitalization however inched down 0.2 per cent, wiping off the early gains of the 2018 first trading session on the premise of decline in two major large-cap stocks, namely DANGOTE CEMENT and NIGERIAN BREWRIES.
The ASI fell marginally from 38,264.79 basis point to stand at 38,187.28 basis point as at end trading session on Wednesday 3rd of January 2018, being the second trading day of the year.
Market capitalization likewise fell to N13.589trillion losing about N3billion, away from the N13.617trillion recorded the last trading session.
A total of 589.584 million shares worth N2.1 billion were traded in 4,366 deals, an impressive improvement across board above the previous performance.
Market Breadth
Out of the 92 stocks traded within the session under review, 37 gained and closed in green, while 11 stocks closed in red and 44 others unchanged.
Bank stocks were on spotlight as they majorly featured on the percentage gainers list with Diamond Bank taking the lead, gaining 9.55%, ahead of FCMB which gained 9.49% and FIDELITY which also advanced by 8.53%.
The percentage Losers include heavyweights such as Dangote Cement and Nigerian Breweries which lost 3.04 percent and 0.04 respectively.
11(Mobil) led the list losing 9.15 percent, to close at N176.8, from the previous N194.6, NEIMETH also lost 8 percent to close at 69kobo against 75kobo it previously closed, while CUTIX closed at N1.91, 4.98 percent lower than the previous N2.01,
Cash and attention continued to flow into banking stocks with ten of the most active stocks on the southern bourse were that of banking industry, of which FBNH led host of others like FCMB, DIAMOND,TRANSCORP, ZENITH, ACCESS to emerge as best performed stocks for Wednesday, in terms of Volume, Value and Deal.
