NSE Index Dips By 0.79% as Bear Tightens Reins on Trading

Trading activities on the Nigerian Stock Exchange, NSE, on Thursday, July 21, maintained a four-day downward trajectory, with lead indicators dropping 0.79 percent in contrast to 0.94 percent lost in previous session.

Consequently, the All Share Index  lost 223.89 points to close at 27,997.29 basis points compared to 267.38 points lost in previous session to close at 28,221.18 basis points, extending the year to date losses by 2.25 percent.  Likewise, all sectoral indices likewise closed in red with the exception of the NSE ASeM Index that closed flat.

Thirty four losers were led by Oando Plc for the third consecutive day as it depreciated by 8.72 percent or 47 kobo to close at N4.92 per share, Diamond Bank Plc fell by 8.62 percent or 15 kobo to close at N1.59 kobo per share, while Transcorp Plc lost 8.51 percent or 12 kobo to close at N1.29 per share.

Honeywell Flour Plc depreciated by 8 percent or 12 kobo to close at N1.38 per share while Cadbury Plc dropped 5.53 percent or 89 kobo to close at N15.20 per share.

However on the gainer’s table, Skye Bank Plc led the day’s six gainers for the fourth day in a row as it gained 8.97 percent or 7 kobo to close at 85 kobo per share, Wema Bank Plc appreciated by 6.85 percent or 5 kobo to close at 78 kobo per share, while A.G. Leventis Plc added 4.30 percent or 4 kobo to close at 97 kobo per share.

CAP Plc followed with an increase of 2.86 percent or one naira to close at N36 per share and Tiger Brands Plc gathered 2.08 percent or 8 kobo to close at N3.93 per share.

Skye Bank recorded the highest trade in volume, exchanging 54 million shares worth N45.9 million, UBA came second with an exchange of 41.3 million shares valued at N182 million, while Zenith Bank sold 21.7 million shares worth N332.6 million.