NSE Index Sheds 0.53% as Investor Lose N46b

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) closed for the week on Friday in red, reversing the bullish trend achieved the previous day.

Major market indicators depreciated, including the all-share index, which dropped by 0.53 percent to close at 25,802.54 points and the market capitalisation, which lost N46.1 billion to finish at N8.892 trillion.

Similarly, the volume of shares traded at the market on Friday significantly dropped with investors staking N1.2 billion on 144.6 million shares traded in 2,350 deals compared with N1.7 billion spent on 354.5 million shares in 2,760 deals on Thursday.

Nestle led the losers’ chart on the floor of the NSE on Friday depreciating by N19.99k to close at N680 per share, while Nigerian Breweries crashed by N1.43k to finish at N133.11k per share.

UACN lost 79k to close at N15.20k per share, GTBank declined by 58k to end at N23.2k per share and Cadbury weakened by 25k to finish at N9.20k per share.

At the other end, Guinness topped the gainers’ log after growing by N2.97k to close at N66.50k per share.

Also, ETI went up by 15k to finish at N10.30k per share and Union Bank progressed by 6k to end at N5 per share.

UCAP advanced by 5k to close at N3.55k per share, while NPF Microfinance Bank Plc also improved by 5k to finish at N1.13k per share.

First Bank Holdings emerged investors’ delight on Friday accounting for 34.3 million shares exchanged at N120 million.

Standard Trust Assurance Plc came second with investors spending N10 million on its 20 million units of shares.

A total of 18.2 million shares of GTBank were traded by investors on Friday valued at N423.3 million to emerge third.