NSE Index Declines After 1.86% Increase

The Nigerian Stock Exchange All-Share Index declined on 4th of May 2015 after increasing by 1.86% on May 1st 2015 to close at 34.708.11 basis points.
The rise on last week Thursday had followed over three days of uninterrupted losses caused mainly by profit-taking activities.
 Despite halting the run of losses last week, equities opened the week on a pessimistic note, pulling the NSE ASI down by 0.17% or 58.73% to 34,649.38 basis points.
The market capitalisation of the outlined equities also decline by 0.17% or N20bn to N11.767tn, compared to the N215bn or 1.86% increase it recorded on Thursday last week to close at N11.787tn.
Of the five sectoral indices, three rose while two declined. The NSE Banking Index increased by 0.7% to seal at 392.07 basis points, the NSE Oil and Gas Index rose by 0.68% to 384.83 basis points, while the NSE Consumer Goods Index gained 0.43% to close at 884.41 basis points.
The appreciation recorded by the three indices were lessened by a 1.44% decline suffered by the NSE Insurance Index, which closed at 144.18 basis points and the 1.01% decline recorded by the NSE Industrial Index, which closed at 2,161.03 basis points.
In the meantime, the NSE 30 Index, which measures the performance of the top 30 stocks on the Exchange, gained 0.27% to close at 1,592.37, while the NSE Lotus Islamic Index declined by 0.6% to close at 2,262.38 basis points.