Equities Market Ends Week With N171bn Drop
The week ended with activities on the Nigerian Stock Exchange in a steep decline seeing the All Share Index (ASI) dropping by 0.94 per cent.
ASI which fell by 1.27 per cent on Thursday having closed at 34,577.26 basic points, ended at 34,250.74 basic point Friday.
The depreciation of the market also reflected on the market Capitalisation which shrank by N171bn to close at N17. 901 trillion as against the N18.072 trillion it posted the previous day.
The huge decline of the transaction was influenced by the drop in capitalized stocks. Amongst which are ; Dangote Cement Plc, Julius Berger, Glaxo SmithKline, Unilever and Neimeth Pharmaceutical.
Also, the market turnover increased, , as investors traded in 796. 064 million worth of shares at N4.464 billion in 4,810 deals, in contrast to 553. 949 million shares worth N6.638 billion in 6,441 deals traded on Thursday.
The equity transaction saw the market breadth recording a positive trajectory, with 37 gainers and 10 losers compared to 40 gainers with 14 losers the previous day.
The locers’ table was dominated in percentage ramification by Dangote Cement which shrank by 8.04 per cent to close at N183 per share.
The fall of the market also saw
Neimeth Pharmaceutical dipping by 5.98 per cent to close at N2. 2 per share, while Julius Berger shed 4.62 per cent to close at N17. 55 per share.
Also, Glaxo Smith Kline and Unilever depreciated by 2.99 and 1.15 per cent to close at N6. 5 and N12. 9 per share respectively.
On the flip side, the gainers’ table was in percentage terms led by Vitafoam appreciating by 8.66 per cent to close at N6.9 per share.
FBN Holdings rose by N8.73 per cent to close at N6.85 per share, while Guinness Nigeria Plc jumped by 5.92 per cent to close at N17 per share.
In the same vein, Zenith Bank surged by 3.18 per cent to close at N22. 7 per share, while Guaranty Trust Bank gained 1.70 per cent to close at N32. 9 per share.
Jaiz Bank dominated the market activity chart traded 401.133 million shares worth N260,754 million, while Regency Assurance sold 401. 133 million shares atN260. 754 million.
Acess Bank followed trading in 49. 407 million shares worthN386.018 million, while Zenith Bank traded 47. 773 million shares worthN1.083 billion. Also, FBN Holdings sold 28. 909 million shares worth N190. 380 million.
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