Abysmal Performance of Blue Chip Stocks Drags NSE Index Down By 0.34%

Trading activities on the floor of the Nigerian Stock Exchange, NSE, on Thursday, April 7, reversed two consecutive day’s positive trend as key indices closed 0.34% lower against the increase of 0.04% recorded on Wednesday, April 6.

The All-Share Index lost 86.17 points or 0.34 per cent to close at 25,369.52 as the value of blue chip stocks nosedives.

Nestle Plc. which topped the losers chart for the day dropped N15 to close at N67 per share, followed by Dangote Cement Plc. which decreased by N2.01 to close at N169.99, while UACN fell by 97 kobo to close at N19.48 per share.

Stanbic Plc and Oando Plc also declined by 25 kobo and 21 kobo each to close at N13.45 and N4.07 respectively.

On the other hand, the day’s gainers were led by Seplat Petroleum Plc which added N2.65 to close at N309.15 per share, trailed by Okomuoil Plc with a gain of N1.41 to close at N29.77 per share while Nigerian Breweries Plc gained 99 kobo to close at N108.99 per share. Nigerian Aviation Handling Company Plc also grew by 17 kobo to close at N3.89 per share while Etranzact Plc increased by 16 kobo to close at N3.39 per share.

Trading in the Top Three Equities according to volume today were Equity Assurance Plc which moved a total of 79.02 million shares valued at N39.5 million. Fidelity Bank Plc, followed with a sale of 29.5 million shares valued at N39.9 million while Guaranty Trust Bank Plc exchanged 23.5 million shares worth N332.6 million.

The day had investors on the floor of the Exchange trading a total of 264.7 million shares worth N1.31 billion in 3,033 deals against a total of 203 million shares worth N885.63 million traded by investors on Wednesday.‎