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United Bank for Africa Plc (UBA), Lafarge Africa, Livestock Feeds, NEM insurance and MRS Oil Nigeria Plc were the major losers of trading on the floor of the Nigerian Stock Exchange (NSE) as the losing trajectory of the market continued on Friday.
The All Share Index (ASI) the benchmark for Nigerian equities shed 0.24 per cent or 97.16 index point to close at 41,001.99 basic point, compared to 41,099.15 basic point it opened transaction with.
Also the market capitalisation dropped 0.24 per cent or N51bn to close at N21.448bn, as against the N21.499bn recorded the previous day.
The market turnover decreased by
47.2 per cent, as investors traded in 591.459 million shares worth N5.072 billion in 5,767 deals, compared to 1.121 billion shares worth N6.397 billion in 7,404 deals traded the previous day.
The market breadth was negative with 33 losers and 21 gainers, as against 50 losers compared to 14 gainers on Thursday.
Livestock Feeds led tgr losers ‘ table in percentage terms, when it fell by 10 per cent to close at N2. 52 per share.
NEM Insurance and MRS Oil Nigeria Plc dropped 9.67 and 9.68 per cent to close at N2. 43 and N11. 2 per share respectively.
In the same vein, Lafarge Africa slumped 6.98 per cent to close at N26 per share, while UBA Group depreciated 2.79 per cent to close at N8.7 per share.
On the other hand, NCR Nigeria dominated the gainers’ chart in percentage parameter, when it rose by 9.86 per cent to close at N3. 12 per share.
Cutix and Champions Breweries appreciated by 9.71 and 9.55 per cent to close at N2. 26 and N1. 95 per share respectively.
Also, Redstarex Plc climbed 3.03 per cent to close at N3. 4 per share, while Flour Mills surged by 1.27 per cent to close at N32 per share.
For the second consecutive trading day, Transnational Corporation dominated the market activity chart in volume terms trading 169. 275 million worth of shares at N195.888 million. Japaul Gold, UBA, FBN Holdings and Zenith Bank completed the top five activity table of the stock market.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.
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