NSE Index Drops 0.59% As Trading Wallows in Two Consecutive Day Bear Mood

Equities trading on the floor of the Nigerian Stock Exchange, NSE, on Thursday, May 5, maintained the bearish trend which picked up on Wednesday, May 4.

To this end, the All Share Index dropped 0.59 percent to close at 25,563.78 points.

The day’s trading recorded 25 gainers to 24 losers, with the major price losers as Nigerian Breweries which dropped by N6.68 to close at N115.32 per share; WAPCO which dropped by N1.5 to close at N71.5 per share; Dangote Cement, which lost one naira; Cadbury 82 kobo to close at N15.68 per share while Union Dicon Plc declined by 59 kobo to close at N11.21 per share.

Conversely, Nestle Nigeria Plc led the days advancers, adding N10 to close at N690 per share, Forte Oil Plc followed with an appreciation of N9.48 to close at N19.48 per share while Total Nigeria Plc advanced by 97 kobo to close at N157 per share.

Conoil and Guinness grew by 82 kobo and 54 kobo each to close at N17.27 and N94 per share respectively.

Banking stocks continued to dominate activities chart, as the three most active stocks were FBN Holdings, accounting for N27.8 million shares worth N98.74 million; United Bank for Africa, exchanged 26.5 million shares valued at N92.4 million and Zenith Bank, sold 15.96 million shares amounting to N207.6 million.