International Breweries Leads NSE Index to 0.14% Loss

February 22, 2019
NSE All-Share Index

By Modupe Gbadeyanka

Losses recorded by International Breweries and 14 other counters overpowered gains posted by 21 equities on the floor of the Nigerian Stock Exchange (NSE) on Thursday.

Business Post reports that there was a renewed sell pressure at the local bourse yesterday as investors approached the market with caution, slowing the index down by 0.14 percent at the close of transactions.

While the All-Share Index (ASI) depreciated by 45.4 points to close at 32,568.65 points, the market capitalisation decreased by N17 billion to finish at N12.145 trillion.

A look at the price movement chart yesterday revealed that International Breweries led the losers’ log with a loss of N2.75k to end at N26.25k per share.

Zenith Bank, which followed, went down by 50 kobo to close at N25.30k per share, while PZ Cussons fell by 30 kobo to close at N12.35k per share.

Dangote Flour depreciated by 25 kobo to settle at N9.70k per share, while UAC of Nigeria declined by 20 kobo to end at N8.80k per share.

On the flip side, Dangote Cement led the gainers’ chart after appreciating by 60 kobo to close at N193 per share.

GlaxoSmithKline gained 45 kobo to settle at N12 per share, while Ecobank improved by 25 kobo to finish at N14.15k per share.

Fidson also increased its share price by 25 kobo to close at N4.95k per share, while Oando added 20 kobo to its share value to end at N6.50k per share.

During Thursday’s trading session, the volume of shares traded decreased by 50.29 percent from 443.8 million units to 220.6 million units, while the value declined by 60.28 percent from N5.6 billion to N2.2 billion.

A further breakdown of the activity chart showed that Transcorp was the most traded stock, transacting 24.7 million units for N36.2 million.

FCMB sold 19.2 million equities worth N43.9 million, while GTBank exchanged 16.5 million shares valued at N630.2 million.

Furthermore, Zenith Bank traded 15.7 million shares for N402.2 million, while Access Bank exchanged 14.3 million units for N91 million.

Modupe Gbadeyanka

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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