Forte Oil, 18 Others Push NSE Index Lower

• Forte Oil, 18 Others Push NSE Index Lower

The equities segment of Nigerian Stock Exchange extended its declines on Tuesday as 19 stocks led by Forte Oil Plc recorded losses, pushing key indices lower.

The NSE market capitalisation dropped to N8.742tn from N8.744tn the previous day, while the All-Share Index fell from 25,273.03 basis points to 25,266.15 on Tuesday.

The market capitalisation and ASI, which closed at N8.828tn and 25,516.34 basis points respectively last week, declined by 0.95 per cent on Monday.

A total of 180.22 million shares worth N1.62bn were traded in 2,917 deals on Tuesday.

Forte Oil topped the losers’ table on Tuesday as it depreciated by N2.80 or 5.86 per cent to close at N45 per share. It was followed by Honeywell Flour Mill Plc, which eased by 4.76 per cent to N1 per share.

AXA Mansard Insurance Plc shed 3.61 per cent to N1.60 per share; Neimeth International Pharmaceuticals Plc was down by 3.45 per cent to N0.56 per share, while Africa Prudential Registrars Plc lost N0.08 to close at N2.33 per share.

Cap Plc, Nascon Allied Industries Plc, Livestock Feeds Plc, Learn Africa Plc, Cadbury Nigeria Plc and Oando Plc emerged the top five gainers on Tuesday.

Cap and Nascon Allied Industries appreciated by 10.23 per cent to close at N32.64 and N8.62 per share respectively.

Livestock Feeds rose by 10 per cent to close at N0.66 per share; Learn Africa gained 8.45 per cent to close at N0.77; Cadbury was up by eight per cent to N9.45 per share, and Oando appreciated by 6.28 per cent to N5.25 per share.