Nigeria equity market extends negative outlook, down by 0.35%

The Nigerian Stock Exchange (NSE) extended negative outlook for the second consecutive days with crucial market indices dropping further by 0.35 per cent amid profit taking.

Specifically, the All-Share Index on Thursday lost 111.68 points or 0.35 per cent to close at 32,010.06 compared to 32,121.74 achieved on Wednesday.

Similarly, the market capitalisation which opened at N11.978 trillion shed N41 billion or 0.34 per cent to close at N11.978 trillion.

Mobil Oil led the losers’ chart, shedding N10 to close at N170 per share.

Dangote Cement trailed with a loss of N1.50 to close at N195, while PZ Cussons declined by N1 to close at N11.10 per share.

Flour Mills lost 95k to close at N19, while Guaranty Trust Bank shed 30k to close at N37.65 per share.

Conversely, Stanbic IBTC Holdings led the gainers’ table, increasing by N1.40 to close at N48 per share.

Cadbury followed with a gain of 80k to close at N11, while Dangote Flour gained 45k to close at N11.35 per share.

Ecobank added 30k to close at N14, while Custodian and Allied Insurance appreciated by 15k to close at N6 per share.

Zenith Bank was investors delight leading the activity table with a turnover of 34.81 million shares worth N859.73 million.

Access Bank followed with an account of 29.21 million shares worth N177.49 million, while FBN Holdings traded 28.98 million shares valued at N235.88 million.

Guaranty Trust Bank sold 25.54 million shares worth N850.07 million, while United Bank for Africa traded 14.42 million shares valued at N111.07 million.

However, the volume of shares traded closed higher with an exchange of 218.89 million shares worth N2.74 billion in 3,519 deals.

This was against the 208.60 million shares valued at N2.78 billion traded in 3,246 deals.