NSE trading closes downward trend as market indicators depreciate 0.89%

Equity transactions on the Nigerian Stock Exchange (NSE) on Thursday closed on a negative note with the market indices dropping further by 0.89 per cent.

It was reported that the market capitalisation shed N111 billion or 0.89 per cent to close at N12.452 trillion against N12.563 trillion posted on Wednesday.

Also, the All-Share Index, which opened at 34,414.37, lost 304.15 points or 0.89 per cent to close at 34,110.22 amid price losses.

An analysis of price movement indicates that Unilever led the losers’ table with a loss of N3.20 to close at N46.80, Stanbic and Guinness trailed with N2 each to close at N45 and N88 per share.

Guaranty Trust Bank declined by N1.70 to close at N34.95 and Interbred also lost N1 to close at N32 per share.

Conversely, Forte Oil and Dangote Cement led the gainers’ table during the day, gaining N1 each to close at N21 and N224 per share.

Fidson came second with a gain of 50k to close at N6 while PZ appreciated by 35k to close at N13.50 and Flour Mills lost 30k to close at N21.50 per share.

Similarly, the volume of shares decreased by 17.86 per cent with an exchange of 164.500 million shares worth N2.07 billion transacted by investors in 3,188 deals.

This was in contrast with 200.278 million shares worth N2.16 billion exchanged in 3,224 deals on Wednesday.

It was reported that Guaranty Trust Bank was the most active, exchanging 23.87 million shares valued N124 million.

UBA traded 15.16 million shares valued N234.67 million, while FBNH followed with an account of 10.93 million shares worth N897.18 million.