Market indices maintain downward slide on NSE

Transactions on the Nigerian Stock Exchange (NSE) on Friday for the fourth consecutive day ended on a negative trend, with the market indices dropping by 0.23 per cent.

The All-Share Index lost 59.1 points or 0.23 per cent to close at 25,454.93, against the 25,514.03 posted in the preceding day.

Also, the market capitalisation which opened at N8.827 trillion dipped N20 billion or 0.23 per cent to close at N8.807 trillion.


7UP Bottling Company recorded the highest loss to lead the losers’ chart, dropping by N3.99 to close at N76.01 per share.

Mobil Oil trailed with a loss of 75k to close at N297.25 and Forte Oil shed 59k to close at N45 per share.

Ecobank Transnational incorporated was down by 31k to close at N9.18, while GTBank depreciated by 30k to close at N26.50 per share.


On the other hand, Access Bank topped the gainers’ chart with a gain of 17k, to close at N6.10 per share.

Eternal Oil followed with a gain of 8k to close at N3.23 and Transnational Corporation gained 2k to close at 74k per share.

FCMB Group improved also by 2k also to close at N1.25, while Livestock Feeds appreciated by 2k to close at 71k per share.

In spite of the drop in market indices, the volume of shares traded closed higher as investors staked N2.33 billion on the 346.03 million shares traded in 2,613 deals.

This was against the 115.11 million shares valued at N1.42 billion exchanged in 2,861 deals on Thursday.

Continental Reinsurance was the most active, accounting for 203.13 million shares worth N335.10 million.

It was trailed by International Breweries with 27.25 million shares valued at N408.76 million, while Stanbic IBTC traded 16.65 million shares worth N294.824 million.

Access Bank sold 12.78 million shares valued at N75.07 million and FBN Holdings exchanged 12.57 million shares worth N38.79 million

Source: Voice of Nigeria