Stocks Drop -0.01%

Trading on the Nigerian equities dropped -0.01 per cent on Thursday as the All Share Index (ASI) closed at 30,738.92 having dropped from 30,741.88 it closed Wednesday

The dropped in ASI is reflected in the market capitalisation which also dipped to N16.062 trillion from N16, 068 trillion of Wednesday. This in effect means the market lost N6 billion or 0.3 per cent.

The downtrend was caused by losses in some capitalised stocks, amongst which are; ETI, Floor mills, Glasco Smith kline, Jaiz Bank, Sterling Bank and UBN.

Fidson led the losers’ table in percentage terms, dropping by 6.82 per cent to close at N4.1 per share. International Breweries followed with 5.80 per cent to close at N6.5 while UBN shed 3. 64 per cent to close at N5.3 per share.

Flour mills dipped 2.82 per cent to close at N27.6, while Glasco Smithklines lost 1.69 per cent to close at N5. 8 per share.

Conversely, Learn Africa dominated the gainers’ table in percentage terms, gaining 9.52 per cent to close at N1.15k per share.

Afri Prud closely followed with 9.35 per cent to close at N6. 2, while Unilever rose by 2.92 per cent to close at N14.1 per share.

FBN Holding improved by 2.38 per cent to close at N6. 45, while Guaranty Trust Bank appreciated by 0.62 per cent to close at N32.3 per share.

The total volume of shares traded
stood at 430,121,026 million with stocks bought and sold by investors closing at N6,619 billion in 4,319 deals

The market indices closed at 1.443. 36 up by 0.06 per cent compared to Wednesday’s indices of 1.442. 43.

Transactions in the shares of FBN Holding topped the activity chart with 61. 49 million shares worth N390.60 million.