Equities Market Index Shrinks Further, Dips 0.70%
Transactions on the Nigerian Exchange Limited (NGX) closed for the week on bearish note on Friday with the index dropping further by 0.70 per cent.
The NGX All-Share Index (ASI) dipped by 350.53 index points or 0.70 per cent to settle at 49,664.07 from 50,014.6 posted on Thursday.
Also, the market capitalization depreciated by N189.07 billion, also representing a 0.70 per cent fall to close at N26.79 trillion, against N26.98 trillion recorded the previous day.
The downward slide of the market index was due to the price losses by big and medium firms like BUA Cement Plc, Chams Plc, Cutix Plc, Ellah Lakes Plc and Unity Bank Plc.
The market turnover rose by 461.6 per cent with 750.29 million shares worth N5,31 billion traded in 4,076 deals against the 133.59 million shares valued at N2.44 billion traded in 4,292 deals on Thursday.
Twenty four stocks recorded price gains, while 19 shed prices, against the 20 price gainers and 14 losers on Thursday.
The losers’ table was led in percentage terms by BUA Cement Plc, declining 9.95 per cent to settle at N52. 95 kobo per share
Chams Plc, nosedived by 9.68 per cent to close at N0. 28 kobo per share, while Cutix Plc, fell 8.89 per cent to settle at N2 .05 kobo per share.
Similarly, Ellah Lakes Plc and Unity Bank Plc shed 6.98 per cent and 6.52 per cent to settle at N4 and N0. 43 kobo per share, respectively.
On the flip side, BUA Foods Plc dominated the gainers’ chart, rising 10 per cent to close at N59. 95 kobo per share.
NEM Insurance Plc rose by 9.98 per cent to settle at N4.41 per share, while Courtville Plc jumped 9.80 per cent to close at N0.56 kobo per share.
Ikeja Hotel Plc and Multiverse Plc appreciated by 9.48 per cent and 8.44 per cent to settle at N1.27 kobo and N2.44 kobo per share, respectively.
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