Downward Trend Continues As NSE Index Sheds 0.16% | Independent Newspapers Limited
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Downward Trend Continues As NSE Index Sheds 0.16%

Posted: Jul 24, 2015 at 12:58 am   /   by   /   comments (0)

By Gloria Ishaleku,  Lagos


Nigerian equities market on Thursday sustained bearish momentum which reappeared on the floor of the Nigerian Stock Exchange (NSE) on Wednesday just as the two major market indicators, the All-Share Index and Market Capitalisation, depreciated by 0.16 per cent each.

The All Share Index declined by 50.79 basis points or 0.16 percent to close at 31,216.72 compared to Wednesday’s 31,267.51 even as market capitalisation dropped by N17.384 billion to close at N10.685 trillion as against N10.702 trillion recorded on Wednesday.

A total of 208.498 million shares valued at N3.239 billion changed hands in 3,727 deals at the end of trading on Thursday as against 329.185 million shares valued at N2.581 billion which changed hands in 4,454 deals the previous day with the financial services sector accounting for at total of 89.320 million shares valued at N629.644 million in 1,908 deals compared with 198,341 million shares valued at N1.341 billion in 1,966 deals recorded on Wednesday.

In the banking sub-sector, investors bought and sold a total of 46.639 million shares valued at N459.588 million in 1,097 transactions as against 154.341 million shares valued at N1.106 million in 1,279 transactions recorded in the previous trading day.

Leading the laggards’ table on Thursday was Mobil Nigeria which dropped 282 kobo to close at N153.18, followed by breweries’ major, Nigerian Breweries, which lost 115 kobo and closed at N129.00, Northern Nigeria Flour Mills depreciated by 90 kobo to close at N17.15, Unilever Nigeria shed 78 kobo to close at N37.32, while Stanbic dropped 50 kobo and closed at N22.99, among others.

On the flip side, 7UP Bottling Company led the gainers’ table gaining 900 kobo to close at N194.00, followed by Beta Glass which appreciated by 180 kobo to close at N39.50, Berger Paints nicked 95 kobo to close at N10.31, Ecobank Transnational Incorporated gained 29 kobo and closed at N19.89, while National Salt Company of Nigeria notched up by 25 kobo to close at N6.90 among others.