NSE Index Sheds 0.16% As Bearish Momentum Controls Trading

Transactions on the floor of the Nigerian Stock Exchange, NSE, closed for the week on Friday, April 8, in the Red Zone as  market indices dropped by 0.16 per cent following price loses by some highly capitalized stocks.

The All-Share Index lost 41.45 points or 0.16 per cent to close at 25,328.07 against 25,369.52 achieved on Thursday, April 7.

Similarly, the  market capitalization, which opened at N8.726 trillion, shed N14 billion or 0.16 per cent to close at N8.712 trillion.

The Dangote Cement Group topped the price losers’ table with a loss of 99k to close at N169 per share.

ETI came second on the losers’ table with a loss of 35k to close at N14.8, while Stanbic IBTC dipped by 26k to close at N13.19 per share. UNHOMES lost 22k to close at N4.28, while FBNH declined by 16k to close at N3.34 per share.

On the other hand, Total Oil led the price gainers’ chart chalking up N2.9 to close at N160.5 per share. Okomu Oil gained N1.48 to close at N31.25 and Seplat appreciated by N1.15 to close at N310.3 per share.

Flour Mills increased by 95k to close at N20.5, while Nigerian Breweries improved by 91k to close at N109.9 per share.
NAN reports that GTbank emerged as the most traded stock, accounting for 39.10 million shares valued at N29.72 million.
It was trailed by Sterling Bank with 22.78 million shares worth 35.57 million, NEM accounted for 19.85 million shares worth N264.07 million and Fidelity Bank exchanged 18.07 million shares valued at N24.27 million.

In all, investors exchanged 223.42 million shares valued at N1.35 billion in 2,445 deals.