NSE opens November trading, still on negative sentiments, down by 1.42%

NSE: Indices slump as capitalisation sheds N92bn
United Bank for Africa

Activities on the Nigerian Stock Exchange (NSE) opened for the month of November on negative sentiments with the crucial market indices crashing further by 1.42 per cent.

Our correspondent reports that the market capitalisation lost N168 billion or 1.42 per cent on Thursday to close at N11.684 trillion against N11.852 trillion on Wednesday.

Also, the All-Share Index shed 459.62 points or 1.42 per cent to close at 32,006.65 compared with 32,466.27 achieved on Wednesday.

The further drop in crucial market indices was as a result of huge losses recorded by major blue chips with Nestle, topping the laggards’ table.

Nestle Nigeria dipped N20 to close at N1, 360 and followed by Dangote Cement with a loss of N6 to close at N203 per share.

CAP decreased by N2.85 to close at N25.75, while Cement Company of Northern was down by N2.45 to close at N22.50 per share.

It was reported that Dangote Sugar dipped N1.10 to close at N12.70 per share.

On the other hand, Presco recorded the highest gain, increasing by N3.65 to close at N59.85 per share.

Lafarge Africa followed with a gain of 35k to close at N17.85, while Flour Mills appreciated by 25k to close at N18.50 per share.

Fidson Healthcare added 20k to close at N5.10, while Nigerian Breweries improved also by 20k to close at N82.60 per share.

FCMB Group dominated trading activities, accounting for 167.73 million shares valued at N261.23 million.

Guaranty Trust Bank came second with an account of 85.76 million shares worth N3.21 billion, while Zenith Bank traded 24.37 million shares valued at N562.86 million.

Transcorp accounted for 8.58 million shares worth N10.86 million, while FBN Holdings sold 6.09 million shares valued at N48.15 million.

In all, investors bought and sold 355.76 million shares worth N4.86 billion achieved in 3,019 deals.

This was against the turnover of 212.51 million shares valued at N3.77 billion traded in 3,211 deals on Wednesday.