NSE Index sustains bearish run, down 0.44 per cent

By Bamidele Ogunwusi  / Correspondent, Lagos


Nigeria’s equities market sustained the downward trend witnessed in the last three trading days, as the twin indicators went down by 0.44 per cent each.

Market Capitalisation closed lower at N12.579 trillion after it depreciated by N55.705 billion as against N12.635 trillion it recorded on Wednesday, while the All Share Index dropped to 37,979.99 points after it depreciated by 168.19 basis points or 0.44 percent as against 38,148.18 points recorded in the previous trading day.

Meanwhile, investors bought and sold a total of 747.912 million shares valued at N5.896 billion in 3,817 transactions as against 377.737 million shares valued at N4.104 billion in 4,408 transactions recorded on Wednesday with the financial services sector accounting for a total of 684.035 million shares valued at N4.274 billion in 2,038 transaction as against 329.830 million shares valued at N2.207 billion in 2,617 transactions recorded on Wednesday.

However, the banking sub-sector of the financial services  was the most active during the day with 295.235 million shares valued at N2.991 billion in 1,094 transactions as against 172.743 million shares valued at N1.630 billion in 1,674 transactions recorded the previous day.

At the close of trading, 14 companies made it to the gainers’ table as against 16 on Tuesday, while 29 were on the laggards’ table as against 22 recorded on Wednesday.

Nigerian Breweries led 13 others on the gainers’ table when it appreciated by 300 kobo to close at N166.00 per share, followed by Stanbic IBTC which grabbed 139 kobo to close trading at N30.40 per share. Beta Glass and International Breweries both collected 100 kobo to close at N21.00 and N31.50 per share, respectively, while Ecobank Transnational Incorporated added 35 kobo to close at N18.90 per share, among others.

Source : Independent

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