Capital market closes negative as ASI drops by 1.54%

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The Nigerian Stock Exchange (NSE) ended the week in the red pressured by profit-taking on high-cap stocks.

All-Share Index dipped by 1.54per cent to close on Friday at 26,537.36 basis points having while  Investors’ wealth depreciated by N9.013 billion as the market capitalisation closed at N9.12 trillion.

Year-to-date return stands at -23.43per cent while week-on-week return stand at -2.69per cent .

Late day profit-taking on Dangote Cement that dropped 3.25 per cent, NB sheds 2.36 per cent and GTBank decline by 3.59 per cent  largely accounted for today’s decline equities market performance.

A total of 176 million units of share valued at N2.54 billion were exchanged in the session, representing a two per cent rise in volume traded and a three per cent  decline in market turnover.

Typically, Banking equities led by: Sterling Bank and UBA, accounted for the bulk of trades in the session with 58 per cent total volume traded.

The Oil and Gas gained 0.13 per cent as  sector recorded the only gain, while the Industrial dropped by 1.78per cent, Consumer Goods also recored a decline of 1.21per cent, and Banking depreciated by 1.08 per cent.

Honey well Flour mills gained 9.77per cent to  topped the gainers chart while UACN lost seven per cent topped the losers chart.
Meanwhile, activity in the foregin exchange market remained largely unchanged as the Naira traded range bound due to continued support from the Central Bank of Nigeria (CBN).

The Naira ended the day up against European currencies having gained +1.22per cent on the Euro and +0.16 per cent against the Pound Sterling to close at N215.41/€ and N293.39/£.

In the interbank market, the dollar rose 0.03per cent to N199.00/$ while it was trading at a range of N278-N279/$ in the parallel market.

CBN will be closing the interbank market for the holidays today and reopen on the 4th of January 2016.

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