Bearish trend persists on NSE, indices down by 0.39%

For the fourth consecutive day, the Nigerian Stock Exchange (NSE) crucial market indicators maintained negative slide with the indices dropping further by 0.39 per cent on Thursday.

Specifically, the All-Share Index dipped 115.61 points or 0.39 per cent to close at 29,553.12 compared with 29,668.73 posted on Wednesday.

Also, the market capitalisation which opened at N11.143 trillion shed N43 billion or 0.39 per cent to close at N11.100 trillion.

An analysis of the price movement table indicated that Mobil Oil topped the losers’ chart, dropping by N8 to close at N170 per share.

CAP trailed with a loss of N3.70 to close at N33.70, while Dangote Cement dipped N1 to close at N189 per share.

Unilever was down by 70k to close at N35, while Dangote Flour declined by 50k to close at N8 per share.

On the other hand, Forte Oil led the gainers’ table, appreciating by N2.45 to close at N27.40 per share.

Vitafoam followed with a gain of 28k to close at N3.85, while Oando appreciated by 15k to close at N4.95 per share.

Zenith Bank increased by 10k to close at N20.50, while Sterling Bank gained 7k to close at N2.55 per share.

The volume of shares transacted dropped by 8.02 per cent, while the value of shares traded dipped by 48.94 per cent.

Consequently, investors bought and sold 499.09 million shares worth N2.89 billion in 4,133 deals.

This was in contrast with a turnover of 542.58 million shares valued at N5.66 billion exchanged in 4,146 deals on Wednesday.

Sterling Bank was the most active stock, exchanging 124.83 million shares worth N299.40 million.

Chams followed with an account of 114.67 million shares valued at N23.74 million, while FBN Holdings traded 55.38 million shares worth N407.12 million.

Zenith Bank traded 31.94 million shares valued at N653.86, million while United Bank for Africa sold 28.36 million shares worth N180.45 million.