NSE Index Drops 0.51% Over Lacklustre Market Activities

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday, July 7, closed in the reds as predicted by stock market analysts following the extended holiday which left the market dormant.

Consequently, the All-Share Index shed 147.08 points or 0.51 per cent to close at 28,854.98 compared with 29,002.06 achieved on Monday, July 4.

An analysis of the losers’ table showed that Forte Oil lost N8.93 to close at N171.90 per share, while Beta Glass dipped N4.17 to close at N38.66 per share. Lafarge Wapco shed N3.35 to close at N63.65 per share and GlaxosmithKline dropped N2.24 to close at N20.78 per share.On the other hand, Stanbic IBTC gained N1.54 to close at N16.60 per share.

Conversely, Oando gained 68k to close at N8.05 per share, while Dangote Cement garnered 50k to close at N191.50 per share. Guinness improved by 49k to close at N99.99 and Zenith International Bank gained 33k to close at N15.45 per share.

GT Bank recorded the highest volume of activities, exchanging 32.47 million shares worth N750.33 million. FBN Holding came second with an exchange of 26.35 million shares valued at N100.52 million, while Oando sold 25.52 million shares worth N204.52 million. Access Bank accounted for 23.17 million shares worth N132.02 million.

At the end of trading, 234.96 million shares valued at N2.29 billion were traded by investors in 4,145 deals. This was in contrast with 142.84 million shares worth N1.35 billion exchanged in 3,321 deals on Monday.