NSE Index Loses 0.45% As Trading Continues Downward Spiral

Equities trading on the Nigerian Stock Exchange, NSE, sustained movement south on Tuesday, June 7, as the All Share Index shed 0.45 percent to close at 27,475.48 points against 0.13 percent lost previously to close at 27,598.54 points.

Market breadth closed with 16 equity gainers against 17 equity losers. UBA led the losers chart following a decline of 9.57 percent or 45 kobo to close at N4.25 per share, Cadbury declined by 4.98 percent or N1.02 to close at N19.48 per share, Access Bank lost 4.68 percent or 26 kobo to close at N5.30 per share while FBNH and Skye Bank dropped 3.3 percent to close at N3.76 and N1.16 per share respectively.

Oando ledd the gainers chart gaining 10.16 percent or 62 kobo to close a N6.72 per share, this is coming on the heels of the Oil company’s announcement of securing of a N94.6 billion loan from 10 local banks.

N.E.M Plc and Neimeth Plc also gained 5 percent or 4 kobo each to close at 84 kobo and 86 kobo per share respectively, while Unity Bank Plc and Honeywell Flour Plc added 4.17 percent and 3.59 percent to close at N1 and N1.73 per share each.

At the end of trading, investors in 3,488 deals traded 183.24 million shares worth N2.01 billion compared with a total of 142.34 million shares exchanged for N1.43 billion in 3,695 deals previously.