NSE Index Drops 1.73% On Sustained Downward Spiral

Stock Market Dips Further In Face Of More Deals
Trading activities at the Nigerian Stock Exchange, NSE, on Tuesday, October 25, sustained the downward trend as market indicators slipped farther south.
Consequently, the all-share index dipped by 476.43 basis points or 1.73 percent to end at 27,098.52 basis points capered to 27,574.95 it closed on Monday. Likewise the market capitalisation, which closed at N9.471 trillion on Monday, slipped by N163.6 billion today to close at N9.307 trillion.
Dangote Cement led the losers’ chart on Tuesday with a loss of N8.83k to close at N174.17k per share, Ashaka Cement followed after depreciating by N1.31k to finish at N12.26k per share, while GlaxoSmithKline ended at N15.3k per share, shedding 75k.

Flour Mill lost 65k to close at N19.35k per share and International Breweries finished at N19.40k per share after going down by 55k.

Just like yesterday, the financial services segment of the market was busy on the floor of the stock exchange today.

Zenith Bank sold 19.23 million shares in 164 trades at N288.41 million, Access Bank trailed with 12.53 million units exchanged in 97 deals valued at N70.84 million, while FCMB traded 11.94 million shares worth N13.12 million.

Mobil led the top gainers’ table on Tuesday with a gain of N4.46k to close at N190 per share, Seplat appreciated by N3.60k to finish at N390 per share, while Presco added by N2.5k to end at N42.30k per share.]

WAPCO scooped N1.1k to close at N44.51k per share and Caverton gained 4k to finish at N94k per share.

At the end of trading for the day, a total of 113.5 million shares were traded on Tuesday in 2,435 deals valued at N1.233 billion.

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