For three consecutive trading sessions this week, the Nigeria stocks market has experienced continuous down trend as the NSEASI further declined by 0.46%, bringing the bourse to six straight negative close on Wednesday . Although there is optimism by experts that the market might pick up before the end of the week, but then, the market has the mind of its own. Anything is obviously possible in the capital market.
Market capitalisation declined by 0.46% to settle at 14.844 trillion as against 14.912 trillion of the previous trading session shedding about N68 billion.
Trading activities were upbeat compared to the last trading session as volume and value traded grew 19.49% and 44.03% respectively, settling at 488.974 million units and N5.643 billion in 5,524 deals.
The market breadth closed weak as 19 stocks closed positive while 35 stocks closed negative.
Fidelity Bank emerged top on the gainer’s chart closing 7.76% above the previous close of N2.32, to settle at N2.5.
Dangote Flour and GSK both grew 5% respectively ahead stocks like Guinness and FCMB.
In the banking sector, Fidelity Bank with a growth of 7.76% led other Banks which include, FCMB (4.74%), UBA (4.07%), Diamond Bank (3.87%), Zenith (1.07%) and Guaranty (0.34%) in that order.
Cadbury tops the losers’ chart losing 9.64% of its share price, while Unity Kapital and Mansard both shed 7.69% and 7.41% respectively.
Cadbury has experienced decline for three consecutive sessions this week; it shed 9.65% and 9.39% on Monday and Tuesday respectively.
Africa Alliance Insurance has the highest number of traded volume of about 82 million units and Dangote Cement recorded about N1.07 billion it terms of value.
Zenith bank emerged as the most actively traded stocks, trading about 29million units of its shares in 567 deals, worth about N837million.