NSE Index Drops 2.68% As Equity Trading Travels Farther South

Equities trading on the floor of  the Nigerian Stock Exchange, NSE, closed on Monday, April 11 in the Red Zone trading as the All Share Index depreciated by 2.68% to close at 24,648.84 points.

The index decreased by exactly 679.23 points against 41.45 points lost last Friday when it closed at 25,328.07 points.

Similarly, Market Capitalization slid N233.64 billion to N8.478 trillion compared to N8.712 trillion recorded previously.

All sectoral indices also closed negative with the exception of the NSE ASeM which closed flat and the NSE Oil and gas Index which added 0.07 points to close at 356.09 points buoyed by gains recorded in the share price of Oando as it appreciated by 0.25% or 0.01 kobo to close at N4.06 per share.

Other gainers in the course of the day’s trade are Caverton Plc which added 4.86 per cent or 7 kobo to close at N1.51, Axamansard Insurance Plc which appreciated by 4.84% or 9 kobo to close at N1.95 while Nascon Allied plc gained 4.79 per cent or 35 kobo to close at N7.65 per share.

On the other hand, Nig-German Plc led the day’s 25 losers as it dropped 9.72 per cent or 41 kobo to close at N3.81 per share, followed by Union Bank Nigeria Plc which decreased by 9.64 per cent or 54 kobo to close at N5.06 per share while Fidson Healthcare Plc depreciated by 9.40 per cent or 22 kobo to close at N2.12 per share.

In all, investors on the floor of the Nigerian Stock Exchange traded a total of 225.3 million shares valued at N750.23 million in 3,058 deals compared to 223.42 million shares valued at N1.35 billion exchanged in 2,445 deals previously.