NSE closes week in red, down by 1.40%

The market indices of the Nigerian Stock Exchange (NSE) closed in red on Friday, dropping by 1.40 per cent due to Dangote Cement price drop.

Specifically, the market capitalisation dipped N301 billion or 1.40 per cent to close at N21.155 trillion from N21.456 trillion posted on Thursday.

Also, the NSE All-Share Index which opened at 41,014.30 lost 574.45 points or 1.40 per cent to close at 40,439.85.

A breakdown of the price movement table showed that Livesstock Feeds topped the losers’ chart in percentage terms, dropping by 9.78 per cent to close at N2.03 per cent.

NEM Insurance trailed with 6.69 per cent to close at N2.05, while BUA Cement dipped 7.23 per cent to close at N73.30 per share.

Sovereign Trust Bank lost 7.14 per cent to close at 26k, while Dangote Cement dropped 3.45 per cent to close at N220.

On the other hand, UAC Property Development led the gainers’ table in percentage terms, increasing by 9.58 per cent to close at 80k per share.

Linkage Assurance trailed with 9.26 per cent to close at 59k, while Unity Bank improved by 9.23 per cent to close at 71k per share.

Japaul Gold added 9.23 per cent to close at 71k, while Africa Insurance added 9.09 per cent to close at 24k per share.

Further analysis of the activity chart indicated that Zenith Bank was investors’ delight, exchanging 56.60 million shares valued at N1.37 billion.

Transcorp followed with an account of 42.71 million shares worth N40.97 million, while FBN Holdings traded 42.07 million shares valued at N302.49 million.

Guaranty Trust Bank sold 42.06 million shares worth N1.28 billion, Access Bank exchanged 40.94 million share valued at N330.48 million.

In all, investors traded 395.62 million shares worth N5.19 billion in 5,321 deals.

This was against 1.27 billion shares valued at N6.39 billion achieved in 6,573 deals on Thursday.