Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, May 31, remained in the red zone as bear refused to back down from dominating activities on the bourse.
Consequently, the NSE all-share index shed depreciated by 1.30% to close the last trading session in the month of May 2018.
Also market breadth ended May negative with 21 gainers paired against 28 declining stocks. Cement Company of Northern Nigeria emerged the highest gainer of the day soaring by a whooping 10.12% in share value. On the other hand, International Breweries Plc led the laggards’ pack, plunging by 9.64%.
Sectorial performance chart showed the NSE Consumer Goods index dipping by 2.59 percent, following the sell-offs in the shares of International Breweries Plc, Nestle Nigeria Plc, Nigerian Breweries Plc and Flour Mills of Nigeria Plc.
NSE Industrial index also shed 2.56%, majorly driven by the in the shares of Lafarge Cement, Wapco Nigeria Plc and Dangote Cement Plc.
The NSE Banking index collapsed by 1.10 percent, on the back of the 4.59% plunge in the shares of Access Bank Plc, 4.31% loss in Union Bank of Nigeria Plc, 2.95% drop in Stanbic IBTC,1.22% loss in Guaranty Trust Bank Plc and 0.39% plunge in Zenith Bank Plc.
The NSE Oil & Gas index also slipped by 0.34 percent on the back of the 9.09% staggering loss in Forte Oil Plc and 0.73% dip in Oando Plc.
At the end of trading for the month, Stanbic IBTC was the most actively traded stock with 1.15 billion units of shares, which is an off market transaction, worth N62 billion.
