Dipo Olowookere
By Dipo Olowookere
Transactions on the floor of the Nigerian Stock Exchange (NSE) remained bearish on Thursday as a result of the 0.26 percent loss posted at the close of business.
At the market yesterday, investors renewed their determination to take profit as they continue to take caution to minimise any possible loss. They have also been waiting to see if Airtel Africa will paint the ‘market red’ when it finally lists today.
Yesterday, the market capitalisation depreciated by N33.1 billion to finish at N12.915 trillion, but the telco is expected to jerk this up by N1.4 trillion with its admission on the NSE.
The All-Share Index (ASI), which finished at 29,375.25 points on Wednesday, ended on Thursday at 29,300.09 points after going down by 75.16 points.
However, the market breadth ended positive as a result of the 20 price gainers and 16 price losers recorded at yesterday’s trading session.
Business Post reports that Presco closed as the highest price loser after going down by N5.20k to settle at N46.80k per share.
GTBank lost 50 kobo to finish at N29.50k per share, while Guinness Nigeria went down by 30 kobo to close at N47.50k per share.
Dangote Flour decreased by 25 kobo to settle at N17.25k per share, while Oando depreciated by 10 kobo to end at N3.85k per share.
At the other end, NASCON dominated the price gainers’ table with 70 kobo added to its share value to settle at N15 per unit.
CCNN appreciated by 50 kobo to close at N15 per share, while Dangote Sugar went up by 45 kobo to finish at N11.45k per unit.
Custodian Investment also rose by 45 kobo to quote at N6.25k each, while Ecobank increased by 40 kobo to settle at N10.40k per unit.
It was observed that the volume of shares transacted by investors yesterday depreciated by 24.08 percent to 180.5 million from 237.7 million, while the value went up by 4.97 percent to N2.1 billion from N2 billion.
Lafarge Africa took control of the activity chart with a turnover of 41 million equities sold for N552.7 million.
Access Bank traded 23.3 million shares worth N153.5 million, while UBA exchanged 20.2 million equities valued at N122.6 million.
Zenith Bank transacted 12 million shares worth N230.2 million, while Transcorp traded 11.5 million equities valued at N12.4 million.
