NSE Index Drops As Blue Chips Topple

The abysmal performance of blue chips stocks left transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday, July 22, closing in the Reds.

As a result, the All Share Index dropped 1.21 percent to close at 27,659.44 basis points, compared with the 0.79 percent depreciation recorded previously, extending Year-to-Date (YTD) losses by 3.43 percent.

The day’s 14 decliners were led by Custodian and Allied Plc as it depreciated by 9.52 percent or 38 kobo to close at N3.61 per share, United Capital Plc fell by 5 percent or 12 kobo to close at N2.28 per share, while Ecobank Transnational Incorporated Plc lost 4.30 percent or 53 kobo to close at N11.80 per share.

Dangote Cement Plc shed 4.27 percent or 8 kobo to close at N179.50 per share while AIICO Plc dropped 4.11 percent or 3 kobo to close at 70 kobo per share.

On the advancers table, International Breweries Plc led the day’s 20 equity advancers, gaining 4.99 percent or 93 kobo to close at N19.58 per share, Berger Paints Plc appreciated by 4.97 percent or 38 kobo to close at N8.03 per share, while Red Star Express Plc added 4.88 percent or 22 kobo to close at N4.73 per share.

Tiger Branded Consumer Goods Plc followed with an increase of 4.83 percent or 19 kobo to close at N4.12 per share and Dangote Sugar Plc gathered 4.78 percent or 31 kobo to close at N6.80 per share.

Despite a positive market breadth which ended with 20 gainers to 14 losers by the end of today’s trading session, the equities market closed on a negative note.

At the end of trading for the day, investors exchanged a total of 255.7 million shares worth N2.1 billion in 3,659 deals compared to 227.1 million shares valued at N1.8 billion exchanged in 3,426 deals previously.