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NSE on downward trend after share price rally
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NSE on downward trend after share price rally

Happenings

Activities at the Nigerian Stock Exchange (NSE) on Thursday closed on the downward trend after two consecutive days of share price rally.

Agency reporters reveal that the market capitalization, which opened at N9, 961 trillion fell marginally by 0.88 per cent or N88 billion to close at N9.873 trillion.

The All-Share Index dropped by 265.28 points or 0.88 per cent to close at 29,642.38 points compared with 29,907.66 points declared on Wednesday following price depreciation.

Nestle recorded the highest price loss, shedding N15 to close at N810 per share.

Flour Mill trailed with a loss of N1.95 to close at N37.05, while Guinness dipped N9.94 to close at N130.05 per share.

Nigerian Breweries lost N1.80 to close at N142.20, while Stanbic IBTC depreciated by N1 to close at N26 per share.

On the other hand, CAP led the gainers’ chart by N2.75 to close at N38.75 per share.

Forte Oil gained N2.02 to close at N230, while Lafarge Wapco grew by N1.45 to close at N82.50 per share.

Ashaka Cement appreciated by N1.01 to close at N21.30, while Okomu Oil chalked up 45k to close at N27.45 per share

The Financial Service Sector sustained its leading position as the delight of investors with 367.95 million shares worth N3.06 billion in 2,143 deals.

The Banking sub-sector drove activities in the sector accounting for 275.59 million shares valued N2.61 billion achieved in 1,223 deals.

Overall, the volume of shares traded increased higher by 277.76 per cent as investors exchanged a total of 917.084 million shares worth N11.99 billion in 3,889 deals.

This was against the 242.766 million shares valued at N3.67 billion traded in 3,892 deals on Wednesday. (NAN)