NSE Index Drops 0.08% to Massive Stock Price Crash

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Monday, October 24, remained pinned in the South as the All Share Index closed at 27,574.95 basis points, 0.08 percent lower than Friday’s closing rate of 27,598.34 basis points.

The fall in market indices were largely attributed to stock price depreciation recorded in Mobil, Cadbury, PZ, Union Bank and ETI who led the losers chart amongst others.

Mobil lost N4.46 to close at N185.54 per share, Cadbury trailed with a loss of N1.25 to close at N11.88 per share while PZ Cussons and Union Bank of Nigeria recorded a depreciation of 83 kobo and 25 kobo respectively to close at N16.65 and N4.5 per share each. ETI completed the list of top five losers with a decline of 17 kobo in its share price to close at N9.96 per share.

On the other hand, Nigerian Breweries and Guinness Nigeria Plc led the day’s advancers with a growth of 50 kobo each to both close at N145.5 and N80.5 per share respectively. Wapco followed with a 99 kobo gain to close at N43.5 per share, Zenith Bank on account of an impressive Q3 result also added 25 kobo to close at N15 per share while Vitafoam Plc gained 6 kobo to close at N2.64 per share.

The three most active stocks were led by Zenith Bank that sold 20.8 million shares worth N311.9 million, Guaranty Trust Bank Plc followed with the sale of 9.5 million shares valued at N230.6 million while Access Bank Plc sold 7.9 million shares costing N44.4 million.

Market Performance measured by Volume and Value Traded in 2,256 deals settled at 101.2 million units and N1.061 billion respectively compared to 70.9 million units and N656.0 million settled in 1,973 deals last Friday.