Bear Run Tosses Equity Trading South As NSE Index Drops 0.24%

Equities trading on the Nigerian Stock Exchange, NSE, made movements south on Friday, April 22,All-Share Index dropping 59.77 points or 0.24 per cent to close at 24,850.11, compared with 24,909.88 achieved on Thursday.

Likewise, the market capitalization, which opened at N8.568 trillion, lost N21 billion or 0.25 per cent to close at N8.547 trillion.

Champion Breweries Plc led the day’s 18 losers with a loss of 4.75% or 14 kobo to close at N2.81 per share, Air Service Plc. followed with a decline of 4.74% or 9 kobo to close at N1.81, while Tiger Branded Consumer Goods Plc. dipped 4.47% or 13 kobo to close at N2.78 per share.

Livestock Plc. shed 4.21% or 4 kobo to close at 91 kobo and Law Union Plc dropped 3.85% or 2 kobo to close at 50 kobo per share.

On the other hand, Learn Africa Plc led the day’s 24 gainers’ with a gain of 8% or 6 kobo to close at 81 kobo per share; Eterna Plc, garnered 7.73% or 14 kobo to close at N1.95 and Infinity Plc. rose by 55 or 7 kobo to close at N1.47 per share; Dangote Sugar chalked up 4.91% or 27 kobo to close at N5.77per share and Cement company of Northern Nigeria rose by 4.87% or 33 kobo to close at N7.10 per share.

Despite the decline recorded by market indicators, the volume of shares traded appreciated to 188.72 million shares valued at N1.51 billion in 3,050 deals, compared with a total volume of 178.8 million shares valued at N1.2 billion in 3,223 deals yesterday.

Zenith Bank was the most traded in terms of volume, accounting for 30.52 million shares valued at N369.46 million, followed by Access Bank with an exchange of 26.35 million shares worth N101.97 million, while FCMB Group sold 19.51 million shares worth N20.46 million.

FBN Holdings traded 13.15 million shares valued at N43.87 million and United Capital transacted 10.41 million shares worth N15.58 million.