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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

NSE Index Down 1.01% on Intense Bear Drag

Stock Market Dips Further In Face Of More Deals

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Friday, May 25, for the fifth consecutive market session, bringing down the value of lead indices of the bourse.

Consequently, the All-Share Index which opened at 39,723.85 lost 400.23 points or 1.01 per cent to close at 39,323.62. Similarly,  market capitalisation shed N145 billion or 1.01 per cent to close lower at N14.244 trillion against N14.389 trillion achieved on Thursday.

Price movement chart shows that Guinness led the losers’ pack for the day, plunging by N4 to close at N100 per share.

Flour Mills Nigeria followed with a loss of N1.50 to close at N49, Julius Berger was down by N1.45 to close at N27.55 per share, while Glaxosmithkline slumped by N1.02 to close at N20.50 per share.

Conversely, MRS led the advancers’ table, addng N1.70 to close at N36.05 per share. UACN followed with a gain of 55k to close at N15.05, while Fidson Healthcare gained 25k to close at N5.95 per share.

Ikeja Hotel grew by 23k to close at N2.58, while Sterling Bank increased by 6k to close at N1. 35 per share.

The financial service sector remained the most active with Zenith International Bank emerging the toast of investors, accounting for 22.21 million shares valued at N590.59 million.

United Bank for Africa sold 21.43 million shares worth N228.17 million, while Regency Alliance Insurance traded 20.81 million shares valued at N5.41 million.

FBN Holdings trailed with an exchange 19.99 million shares worth N194.09 million.

FCMB group recorded the highest volume of activities during the day, trading 44.016 million shares worth N98.29 million.

At the end of trading, investors bought and sold 295.99 million shares valued at N2.95 billion achieved in 4,911 deals against the 256.43 million shares worth N2 billion transacted in 4,111 deals on Thursday.

 

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