Equities Market Ends Week Negative, Dip 0.39%
By UMORU ABDULKADIR
Trading on the Nigerian Stock Exchange (NSE) sustained its bearish outlook on Friday for the third consecutive day, when the market capitalisation shed N51 billion or 0.39 per cent.
Today’s downturn in the market was due to profit taking in major highly capitalised equities.
Leading the losers’ table was Nestle Nigeria with a list N45 to close at N1,205 per share.
Dangote Cement came second with a loss of N2 to close at N155.70, while GlaxoSmithKline was down by 75k to close at N7.15 per share.
Ecobank Transnational declined by 55k to close at N7.15, while Forte Oil also lost 55k to close at N14.50 per share.
Accordingly, the market capitalisation which opened at N13.257 trillion shed N51 billion to close at N13.206 trillion.
In the same vein, the All-Share Index lost 105.52 points or 0.39 per cent to close at 27,146.57 points from 27,252.09 reported on Thursday.
On the other hand, Dangote Flour led the gainers’ table, gaining N1 to close at N21 per share.
Zenith Bank followed with a gain of 65k to close at N18, while UACN garnered 55k to close at N6.05 per share.
Access Bank added 45k to close at N6.90, while Custodian and Allied advanced by 40k to close at N6.20 per share.
The market breadth which measures investors’ sentiments was negative with 16 gainers against 18 losers.
Market turnover closes positive as volume moved up by 133.43 per cent as against 46.76 per cent recorded in the previous trading session .
Guaranty Trust Bank sold 129.3 million shares valued at N3.40 billion.
Access Bank followed with an exchange of 59.58 million shares valued at N403.87 million, while Zenith Bank sold a total of 31.36 million shares worth N546.25 million.
FBN Holding traded 15.25 million shares valued at N66.99 million, while UBA traded 14.55 million shares worth N88.82 million.
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