Amidst positive forecast made by capital market analysts for 2018, trading on the floor of the Nigerian Stock Exchange, NSE, on Wednesday went southward as the All Share Index (ASI) fell by 0.20 per cent.
The broad index shed 77.51 points to close at 38,187.28 points from 38,264.79 points while equity capitalization shed ₦28 billion to close at ₦13.59 trillion from ₦13.62 trillion recorded on Tuesday.
Market breadth, however, was positive as 37 stocks advanced in their prices while 11 others declined.
Diamond Bank topped the gainers’ chart with 9.55 per cent to close at ₦1.72 per share. FCMB was next, adding 9.49 per cent to close at ₦1.73, Fidelity Bank followed, garnering 8.53 per cent to close at ₦2.80, Wema Bank added 8.00 per cent to close at 0.54 kobo while Dangote Sugar notched up by 7.42 per cent to close at ₦21.87 per share.
On the flipside, Mobil led the losers, declining by 9.15 per cent to close at ₦176.80 per share. Neimeth trailed, losing 8.00 per cent to close at 0.69 kobo, Cutix Plc fell by 4.98 per cent to close by ₦1.91, Cadbury lost 4.17 per cent to close at ₦14.95 while May&Baker depreciated by 3.47 to close at ₦2.50 per share.
Further analysis of yesterday’s transactions showed that Skye bank was the most active stock, exchanging over 190.02 million units of shares worth ₦101.73 million, Transcorp followed with a sale of 93.42 million shares valued at ₦144.62 million, Diamond Bank traded 79.38 million units worth ₦136.32 million while FCMB followed with an account of 61.15 million units worth ₦105.49 million.
Despite the drop in indices, the volume of shares traded closed with a turnover of 589.58 million shares valued at ₦2.12 billion in 4,366 deals compared with the total of 248.55 million shares worth ₦1.78 billion traded in 3,035 deals in the previous trading session.