The value of listed equities on Nigerian Stock Exchange (NSE) declined by about N40billion yesterday, driven by share price losses recorded by Seplat Petroleum Development Company plc, Nigerian Breweries plc, Okomu Oil Palm plc, Dangote Cement plc.
At the close of deals yesterday, the NSE All Share Index (ASI) declined by 116.78 points or 0.35 percent to 33,602.67 points, from a high of 33,719.45 points recorded the preceding trading day.
Also, the equities market capitalisation dipped from N11.510trillion to N11.470trillion yesterday. In 3,957 deals, equity dealers exchanged 240,640,252 units valued at N6.678billion.
Seplat Petroleum Development Company plc led the losers table after its share price dipped by N8, from N338 to N330; Nigerian Breweries plc declined by N1.97, from N150 to N148.03; Okomu Oil Palm plc also lost N1.61, from N33.16 to N31.55; while Dangote Cement plc lost N1, from N178 to N177.
On the gainers table, Forte Oil plc led after its share price rose from N177.99 to N179.88, adding N1.89; while Conoil plc rallied from N40 to N40.95, adding N0.95.
U.S. crude oil prices edged up on Tuesday, supported by warnings that a tropical storm threatened to hit the coast of the oil-producing state of Texas, but oversupply weighed on Brent. U.S. crude, also known as West Texas Intermediate (WTI), was up 24 cents at $59.76 a barrel at 10:11 a.m. EDT (1411 GMT), staying within a range of $57-$62 per barrel that has been in place since the beginning of May. Brent fell 4 cents to $63.91 per barrel.
Cement Company of Northern Nigeria plc rose from N10.55 to N11.04, adding N0.49. Ikeja Hotel plc also rose from N3.75 to N4, adding N0.25; while GTBank plc gained N0.2, from N26.65 to N26.85.
