Stock Market Closes Week With N10.898bn Dip
The Nigerian Stock Exchange (NSE) ended the week on a bearish note as the All Share Index shed 0.06 per cent.
The ASI lost 25.49 index point to close at 40,186.70 basis point from its 40,212.19 basis point the previous trading session.
Also, the market capitalisation fell by N10.898 billion or 0.06 per cent to close at N21. 025 trillion down from N21. 036 trillion on Thursday.
The depreciation of Stock market was impacted by drop in the equities of Stanbic IBTC Bank, Multiverse Mining and Exploration, Neimeth Pharmaceutical, Royal Exchange Plc and May and Baker Plc.
The market turnover decreased by
27.8 per cent, as investors bought and sold 307.785 million worth of shares at N2.905 billion in 4,393 deals, compared to 426.269 million shares worth N4.750 billion in 4,972 deals the previous day.
The market breadth came out negative with 20 losers and 16 losers as against 30 losers and 10 gainers on Thursday.
The gainers’ chart was led in percentage barometers by Livestock Feeds, surging by 9.27 per cent to close at N2. 24 per share.
Also, Portland Paints and FTN Cocos Processing Plc rose by 8.70 and 8.16 per cent to close at N3. 25 and 53 Kobo per share respectively.
In the same vein, United Capital appreciated by 6.19 per cent to close at N6. 35 per share, while African Prudential Plc soared by 5.80 per cent to close at N7. 3 per share.
On the other hand, Stanbic IBTC Holdings dominated the losers’ table in percentage terms, when it dipped 10 per cent to close at N38. 7 per share.
May and Baker Plc shed 9.89 per cent to close at N4. 19 per share, while Multiverse Mining and Exploration lost 8.33 per cent to close at 22 Kobo per share.
Also,
Neimeth Pharmaceutical declined 7.80 per cent to close at N2. 01 per share, while Royal Exchange Plc depreciated by 7.41 per cent to close at 25 Kobo per share.
FBN Holdings was the most active and valuable stock on the NSE, trading 85.578 million shares worth N624.734 million.
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