NSE All-Share Index dips further by 0.89%

Trading on the nation’s bourse maintained a downward trend for the fifth consecutive trading days with the All-Share Index declining by 0.89 per cent.

It was reported that the index lost 306.52 points or 0.89 per cent to close at 34,250.74 from 34,557.26 posted on Thursday.

Similarly, the market capitalisation of listed equities dipped N171 billion to N17.901 trillion from N18.072 trillion reported on Thursday.

Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd attributed back to back losses during the period to profit taking occasioned by huge gain recorded in November.

Omordion said that free fall posted by blue chips on Thursday was due to investors reactions to improved returns in money and fixed income market activities.

He noted that the market would continue to experience mixed performance due to Santa Claus activities.

A breakdown of the price movement shows that Dangote Cement topped the losers’ chart, shedding N16 to close at N183 per share.

Julius Berger trailed with 85k to close at N17.55, while GlaxoSmithKline dropped 20k to close at N6.50 per share.

Unilever dipped 15k to close at N12.90, while Neimeth International Pharmaceuticals lost 14k to close at N2.20 per share.

On the other hand, Guinness led the gainers’ table, appreciating by 95k to close at N17 per share.

Zenith Bank followed with 70k to close at N22.70, while Guaranty Trust Bank added 55k to close at N32.90 per share.

FBN Holdings also garnered 55k to close at N6.85, while Vitafoam gained 55k to close at N6.90 per share.

Jaiz Bank drove the activity chart, accounting for 401.13 million shares valued at N260.75 million.

Regence Insurance came second with 59.10 million shares worth N11.83 million, while Access Bank traded 49.41 million shares valued at N386.02 million.

Zenith sold 47.77 million shares worth N1.08 million, while FBN Holdings exchanged 28.91 million shares valued at N190.38 million.

Consequently, the volume of shares traded rose by 43.71 per cent as investors traded 796.06 million shares worth N4.46 billion in 4,810 deals.

This was against 553.95 million shares valued at N6.64 billion achieved in 5,441 deals on Thursday.