NSE ASI declines by 0.10% as Portpaint, Forte Oil, UACN drop

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The Equities market segment of the Nigerian Stock Market (NSE) continued on a negative note as lead indicators further depreciated by 0.10 per cent against 0.26 per cent recorded in the previous trading session.

Specifically, the NSE All Share Index and Market Capitalization dropped 26.11 basis points and N8.98 billion lower from their previous figures to close at 27,287.89 basis points and N9.382 trillion respectively compared to 27, 314 basis points and N9.391 trillion recorded on Tuesday.

The volume of equities traded today in 2,857 deals increased 150per cent to 383.4 million units of shares from 153.3 million units traded on Tuesday, while the value of equities traded rose by 212per cent from N1.7 billion to N5.3 billion.

The market breadth closed negative with 27 losers against 18 gainers. Portland Paint Plc topped the losers chart with a decline of 9.52 per cent or N0.40 kobo to close at N3.80 per share trailed by Forte Oil Plc which depreciated by five per cent or N13.08 to close at N248.65 per share while UACN Plc dropped 4.97 per cent or N1.34 to N25.61 per share.

Union Homes Plc likewise lost 4.97 per cent or N0.26 kobo to close at N4.97 per share and Oando Plc fell 4.68 per cent or N0.28 kobo to close at N5.70 per share.

On the other hand, Unilever Plc led today’s 18 gainers with a 10.23 per cent or N4.08 appreciation to close at N43.98 per share followed by Mcnichols Plc which added five  per cent or six kobo to close at N1.26 per share, while National Aviation handling Company Plc gained 4.95 per cent or N0.18 kobo to close at N3.82 per share.

Airline Service and Logistics Plc appreciated by 4.40 per cent or N0.08 kobo to close at N1.90 per share while Wema Bank Plc increased by 3.26 per cent or N0.03 kobo to close at N0.95 kobo per share.

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