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NSE Index Sheds 0.14% to Close Week Bearish

By Modupe Gbadeyanka

Trading activities on the floor of the Nigerian Stock Exchange (NSE) closed bearish on Friday with profit taking witnessed at the market.

Business Post reports that the equity market depreciated by 0.14 percent just as the year-to-date returns dropped to 6.72 percent.

At the close of business yesterday, the All-Share Index (ASI) reduced by 59.20 points to settle at 40,814.89 points, while the market capitalisation declined by 21.4 billion to finish at 14.743 trillion.

It was observed that the volume and value trades recorded at the market depreciated on Friday with a total of 242.3 million equities sold in 5,746 deals worth N3 billion in contrast to the 740.5 million shares exchanged in 5,554 deals valued at N8.9 billion.

Zenith Bank shares were the most traded at the NSE yesterday with 30.2 million units traded by investors worth N815.1 million.

It was followed by FBN Holdings, which sold 19.4 million equities for N244.7 million, and Oando, which exchanged 19 million shares for N184.7 million.

UBA traded 18.9 million equities valued at N212.1 million, while Access Bank sold 18 million shares worth N203.1 million.

On the price movement chart, Mobil Oil Nigeria emerged the heaviest price loser, declining by N9 to close at N172 per share.

It was trailed by Dangote Cement, which lost N3 to end at N249.50k per share, and GlaxoSmithKline, which fell by N2.90k to finish at N30.30k per share.

Presco depreciated by N2.65k to close at N66 per share, while Unilever Nigeria went dow by N2 to settle at N53 per share.

On the flip side, Seplat topped the gainers’ table after adding N35.10k to its share value to settle at N737.10k per share.

GTBank increased by 85k to close at N44.85k per share, while FBN Holdings improved by 60k to settle at N12.85k per share.

Furthermore, Nigerian Breweries went up by 30k to end at N126.10k per share, while Dangote Flour appreciated by 20k to finish at N13.60k per share.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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