Equities Shed N279b, Extend Loss to 3rd Day on Selling Pressure

Equities Market

By Modupe Gbadeyanka

Transactions on the floor of the Nigerian Stock Exchange (NSE) remained bearish on Friday, pointing south by 2.45 percent at the close of the market.

The All-Share Index (ASI) shed 806.3 absolute points to settle at 32,122.14 absolute points, while the market capitalisation depressed by N279 billion to close at N11.11 trillion.

Furthermore, the YTD Return shortened to 19.53 percent, while the market breadth stayed negative as 33 stocks declined in contrast to 21 advancers.

Dangote Cement emerged the biggest loser with N9.40k loss to close at N195.60k per share, while Nigerian Breweries shed N6.13k to end at N151.90k per share.

Okomu Oil declined by N3.24k to settle at N61.56k per share, Lafarge weakened by N2.55k to finish at N48.60k per share, and CAP slumped by N1.74k to close at N33.25k per share.

On the flip side, Ashaka Cement rose by 81k to finish at N17.8k per share and Oando progressed by 33k to end at N7.24k per share.

Also, Transcorp Hotels gained 32k to close at N6.87k per share, Champion Breweries advanced by 26k to finish at N2.93k per share, while GTBank added 16k to end at N34.50k per share.

Business Post reports that the volume and value of shares transacted on the floor of the stock market today declined.

At the end of trading activities, investors bought and sold a total of 417.6 million shares worth N3.3 billion executed in 5,456 deals against 510 million units traded yesterday in 5,321 deals valued at N5 billion.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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