Bears persist on NGX, indices down by 0.68%

The Nigerian stock market indices on Friday dropped further by 0.68 per cent amid losses by some blue chips.

Specifically, the market capitalisation inched lower by N154 billion or 0.68 per cent to close at N22.572 trillion against N22.726 trillion posted on Thursday.

Also, the All-Share Index lost 297.27 points or 0.68 per cent to close at 43,252.01 from 43,549.28 recorded on Thursday.

UPDC topped losers’ chart in percentage terms, shedding 9.47 per cent to close at N1.53 per share.

Livestock Feeds trailed with 8.69 per cent to close at N2, while Prestige Insurance was down by 8.51 per cent to close at 43k per share.

Glaxosmithkline dipped by 6.25 per cent to close at N6, while NPF Micro Finance Bank dipped 5.26 per cent to close at N1.80 per share.

Conversely, Veritas Kapital led the gainers’ table in percentage terms, gaining 9.52 per cent to close at 23k per share.

RedStar Express followed with 6.38 per cent to close at N3.50, while Consolidated Hallmark Insurance gained 5.45 per cent to close at 58k per share.

Recency Insurance improved by 5.26 per cent to close at 40k, while FTNCocoa added 4.76 per cent to close at 44k per share.

However, the turnover of shares traded inched higher as investors traded 314.85 million shares valued at N6.65 billion in 3,400 deals.

This was against 161.31 million shares worth N2.14 billion exchanged in 3,574 deals on Thursday.

FBN Holdings was the toast of investors, accounting for 129.77 million shares valued at N15.36 million.

Stanbic IBTC followed with an account of 19.72 million shares worth N761.18 million, while GTCO sold 18.44 million shares valued at N507.04 million.

Flour Mills traded 16.34 million shares worth N503.39 million, while FCMB Group traded 15.84 million shares N49.09 million.