NSE Index Drops 1.80% As Bull Retreats

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, August 25, took a swing southwards, causing a  decline in lead market indicators

The All Share Index depreciated by 1.80 percent to close at 27379.95 points against 70.18 points added in previous session at 27,880.46 points, thus increasing the year to date losses to -4.41 percent from -2.66 percent recorded at the start of trade on Thursday.

Market breadth closed with 11 gainers to 25 losers while Skye Bank Plc led the reclining stocks droppimng 7.81 percent or 5 kobo to close at 59 kobo per share, Dangote Flour Mills Plc lost 4.89 percent or 20 kobo to close at N3.89 per share, Dangote Cement Plc fell 4.71 percent or N8.50 to close at N172 per share.

AIICO Insurance Plc declined by 4.48 percent or 3 kobo to settle at 64 kobo per share, and Dangote Sugar Plc depreciated by 4.41 percent or 30 kobo to close at N6.50 per share.

On the flip side, CAP Plc led the day’s eleven advancing stocks having improved by 4.98 percent or N1.36 to close at N28.66 per share, Continental Reinsurance Plc and Livestock Feeds Plc followed with a growth of 4.44 percent or 4 kobo each to close at 94 kobo per share respectively. 7up Plc gained 3.51 percent or N3.83 to close at N113 per share, and Sterling Bank Plc appreciated by 3 percent or 3 kobo to close at N1.03 per share.

The top three traded stocks were: Diamond Bank Plc with the sale of 54.5 million shares worth N57.34 million, FBN Holdings Plc followed with the trade 42.7 million stocks valued at N132.3 million and UBA Plc exchanged 20.3 million shares worth N90.6 million.

The total value of stocks traded on the floors of the stood at N1.4 billion, while a total of 215.34 million shares exchanged hands in 2,939 deals.