NSE market indicators drop further by 0.66%

Transactions at the Nigerian Stock Exchange (NSE) dipped by 0.66 per cent on Thursday, with major equities recording losses. Dangote Cement topped the losers’ table, shedding N2.57 to close at N172.43 per share. Nigerian Breweries trailed with a loss of N2.14 to close at N142.86, while Ashaka Cement lost N1.19 to close at N11.07 per share.

NASCON dropped 39k to close at N7.61 and Ecobank Transnational depreciated by 38k to close at N9.80 per share.

Consequently, the market capitalisation which opened at N9.35 trillion lost N61 billion to close at N9.29 trillion. Also, the All-Share Index dipped 178.72 points or 0.66 per cent to close at 27,044.36 points as against 27,223.08 achieved on Wednesday. On the other hand, Zenith Bank led the gainers’ chart with 29k to close at N15.10 per share.

PZ Industries came second with 25k gain to close at N18 per share and NAHCO improved by 10k to close at N2.70 per share.

Honey Well Flour gained 9k to close at N1.23 per share and Mansard Insurance garnered 5k to close at N1.98 per share. May and Baker was investors delight, exchanging 23.43 million shares worth N20.62 million. It was followed by Sterling Bank with an exchange of 8.31 million shares valued at N7.29 million and Transcorp, which traded 8.31 million shares worth N7.73 million.

Access Bank transacted 7.89 million shares valued at N44.75 million, while Fidelity Bank sold 7.05 million shares worth N6.26 million. In all, the turnover volume closed lower as investors staked N2.36 billion on 112.52 million shares in 2,684 deals. The transaction record was in contrast with 202.71 million shares worth N1.26 billion achieved in 3,337 deals on Wednesday.