NSE’s indices slide further by 0.5 %

Personal Assistant to Chief Executive Officer, X3m Ideas Limited, Victoria Buzugbe (left); Creative Director, X3m Ideas Limited, Sola Kosoko; Executive Director, Market Operations and Technology, Nigerian Stock Exchange (NSE), Ade Bajomo; Chief Executive Officer, X3m Ideas Limited, Steve Babaeko; Head of Finance, X3m Ideas Limited, Folahan Salam, Head, Information Security, NSE, Favour Femi-Oyewole; Head of Human Resources/Administration, X3m Ideas Limited, Olasukanmi Atolagbe, and Team Lead Copy, X3m Ideas Limited, Femi Taiwo, at the closing gong ceremony at the Exchange in Lagos.

Despite price gains that outweighed losses, equity transactions on the Nigerian Stock Exchange (NSE), sustained the slide yesterday, resulting in a further decline in indices by 0.5 per cent

Although the 35 less-capitalised stocks appreciated in price yesterday, but they were not able to push the indices even as 21 highly capitalised ones constituted the losers’ chart.

Specifically, Nestle led the losers chart with 59.80 kobo to close at N1,150.20 per share, while Cadbury followed with 6.19 kobo to close at N10.95 per share.

Nigerian Breweries shed 4.45 kobo to close at N180.05 per share. CAP and Dangote Cement lost 1.1.00 kobo to close at N33.00 per share and N209.00 per share respectively.

Presco dropped 0.51kobo to close at N63.99 per share. Guinness shed 0.30 kobo to close at N95.50 per share. Guaranty Trust Bank lost 0.28 kobo to close at N37.52 per share. Zenith Bank shed 0.22 kobo to close at N22.86 per share.

FBN Holdings lost 0.16 kobo to close at N5.74 per share. Dangote Flour Mills depreciated by 0.10 kobo to close at N6.45 per share.

On the other hand, Seplat topped the gainers chart with 22.89 kobo to close at N480.79 per share, while Forte Oil followed with 7.95 kobo to close at N49.51 per share. GlaxoSmithKline added 4.20 kobo to close at N21.00 per share.

Okomu Oil appreciated by 2.99 kobo to close at N62.89 per share. Julius Berger and WAPCO gained 2.81 kobo to close at N30.87 and N50.99 per share respectively. Stanbic IBTC garnered 1.95 kobo to close at N41.20 per share.

ROADS added 1.32 kobo to close at N6.60 per share. Fortis Microfinance Bank gained 1.29 kobo to close at N2.58 per share.

Flour Mills garnered 1.19 kobo to close at N27.55 per share. Ecobank Transnational Incorporated appreciated by 1.13 kobo to close at N18.00 per share.

Consequently, the All-share index of the NSE dropped by 267.42 points from 35,664.94 recorded on Monday to 35,397.52. Also market capitalisation depreciated by N63billion or 0.5 per cent from N12.263trillion to N12.200trillion.

The banking subsector dominated in volume terms with 230 million shares traded in 1,147 deals. Transactions on the subsector was buoyed by activities in the shares of Diamond Bank with 130 million shares exchanged in 78 deals, followed by Guaranty Trust Bank with 50 million units exchanged in 360 deals. In all, investors exchanged 373 million units in 4,193 deals.



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