NSE: Market closed on a low note with a 1.40 % drop

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Factual Pursuit of Truth for Progress

 

By Francis Ogwo

There was a downward slide in market indices of the Nigerian Stock Exchange (NSE) on Friday with a 1.40 per cent drop which sources say was due to Dangote Cement price drop.

The market capitalisation dipped N301 billion or 1.40 per cent to close at N21.155 trillion from N21.456 trillion posted on Thursday.

Similarly, the NSE All-Share Index which opened at 41,014.30 lost 574.45 points or 1.40 per cent to close at 40,439.85.

The price movement table showed that Livestock Feeds topped the losers’ chart in percentage terms, with a 9.78 per cent drop to close at N2.03 per cent.

NEM Insurance trailed with 6.69 per cent to close at N2.05, while BUA Cement dipped 7.23 per cent to close at N73.30 per share.

Sovereign Trust Bank lost 7.14 per cent to close at 26k, while Dangote Cement dropped 3.45 per cent to close at N220.

On the other hand, UAC Property Development led the gainers’ table in percentage terms, increasing by 9.58 per cent to close at 80k per share.

Linkage Assurance trailed with 9.26 per cent to close at 59k, while Unity Bank improved by 9.23 per cent to close at 71k per share.

Japaul Gold added 9.23 per cent to close at 71k, while Africa Insurance added 9.09 per cent to close at 24k per share.

Furthermore, the activity chart showed that Zenith Bank was the toast of investors as it exchanged 56.60 million shares valued at N1.37 billion.

Transcorp followed with an account of 42.71 million shares worth N40.97 million, while FBN Holdings traded 42.07 million shares valued at N302.49 million.

Guaranty Trust Bank sold 42.06 million shares worth N1.28 billion, Access Bank exchanged 40.94 million share valued at N330.48 million.

Conclusively, investors traded 395.62 million shares worth N5.19 billion in 5,321 deals as compared to 1.27 billion shares valued at N6.39 billion achieved in 6,573 deals on Thursday.

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