NSE Index Slides By 0.6% on Reversed Bullish Run

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, August 18, reversed a three day gain as key market indices shed by 0.6 percent.

As such, the All Share Index fell  by 0.6 percent to close at 27,420.99 points compared to Wednesday’s appreciation of 0.18 percent when the ASI closed at 27,437.25 points.

Market breadth closed negative with 16 gainers to 18 losers. The depreciation recorded in the share prices of Guinness Nigeria Plc which dropped by N3.51 to close at N89.99.

Total Plc which lost N2 to close at N249 per share, Mobil that fell N1.73 to close at N167.94 per share, Guaranty which declined by 3 kobo to settle at N24.7 per share, and Cement Company of Northern Nigeria’s depreciation of 2 kobo to close at N5.81 per share were the top five stocks responsible for the decline recorded in the NSE ASI, increasing the Year-to-Date (YTD) losses by 4.26 percent.

Conversely, WAPCO (Lafarge) Plc led the day’s advancing stocks with a growth of 70 kobo to close at N56 per share, Zenith Bank Plc added 30 kobo to close at N15.3 per share, Stanbic IBTC Plc improved by 15 kobo to close at N14.1 per share. Eterna Plc gained 12 kobo to close at N2.62 per share and Africa Prudential Registrars Plc depreciated by 9 kobo to close at N2.61 per share.

The total value of stocks traded on the floors of The NSE on Thursday was N3.603 billion compared to N2.29 billion worth of stocks traded on Wednesday.

The total volume of stocks traded in 2,883 deals was 313.3 million in contrast to 297.5 million shares exchanged in 3,438 deals previously.