The Nigerian Stock Exchange, NSE, for the fourth consecutive day, closed in the north on Thursday, January 25, due to the lingering free fall in stock prices.
As such, the All-Share Index, ASI, which stood at 43,963.40 points the previous day, closed on Thursday, at 43,529.06 points, shedding 0.99%, bringing the year-to-date gain to 13.82 percent.
Similarly, the market capitalization, which closed at N15.760 trillion on Wednesday, finished at N15.604 trillion on Thursday.
Business Post reports that losses recorded by Dangote Cement and 29 other stocks contributed to the decline today.
Dangote Cement led the losers’ pack slumping by N8.84k to close at N260.16k per share, while Guinness Nigeria shed N4.15k to finish at N116.10k per share. Stanbic IBTC dropped N2.28k to end at N43.72k per share, GlaxoSmithKline fell by N2.2k to settle at N18.88k per share, while Unilever decreased by N1.50k to close at N44.50k per share.
Conversely, Nestle topped the 22 gaining stocks at the market after surging by N25 to close at N1500 per share. It was followed by Seplat, which improved by N7.58k to settle at N692.58k per share, and Dangote Sugar, which rose by N2.3k to end at N22.1k per share. Flour Mills added 80k to finish at N30.80k per share, while FBN Holdings appreciated by 50k to close at N13 per share.
The Financial Services sector led the activity chart with 389 million shares traded for N5.1 billion, while the Conglomerates sector followed with 68.8 million equities transacted for N164 million.
At the end of trading, total of 500.9 million equities worth N6.6 billion exchanged hands on Thursday compared with 536.4 million units valued at N5.2 billion sold on Wednesday. However, the value of shares rose sharply by 27.98 percent despite the 6.63% percent drop in volume of shares.
