Nigerian Stock Market Loses N55b to Reverse 2-Day Gain

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) closed for the week on Friday on a negative note, reversing the two-day gain recorded on Wednesday and Thursday.

Business Post reports that the equity market finished 0.44 percent lower following losses recorded by Presco and 21 other stocks.

The All-Share Index (ASI), which crossed the 36,000 mark again yesterday, dropped below the mark today after shedding 158.95 points to settle at 35,957.24 points.

Our correspondent reports that investors embarked on profit taking on Friday, ahead of resumption by schools next Monday, leaving the market capitalisation to lose N55 billion at the close of trade to finish at N12.4 trillion.

It was observed that the volume and value of shares transacted today declined with 152.5 million shares worth N3.1 billion exchanged in 4,079 deals in contrast to 222.7 million shares traded yesterday in 4,622 valued at N4.2 billion.

GTBank was the most active stock today with a total of 22.2 million units transacted at N864 million. It was followed by Zenith Bank, which traded 21.8 million shares worth N517.3 million, and Access Bank, which sold 15.6 million shares at N150.8 million.

Furthermore, Lafarge traded 11.5 million shares worth N611.8 million, while UACN exchanged 8.9 million shares valued at N128.3 million.

Mobil led the 18 appreciating equities at the market on Friday, growing by N5.49k to settle at N170.50k per share.

It was trailed by Unilever, which advanced by N1.95k to close at N40 per share, and Dangote Sugar, which rose by 50k to finish at N14 per share.

On the part of Nigerian Breweries, it also moved up by 50k just like Dangote Sugar to close at N184.50k per share, while Berger Paints swallowed 30k to swell to N7.30k per share N7.30k per share.

On the flip side, Presco threw away N3.41k to shrink to N64.98k per share, while Beta Glass shed N2.99k to settle at N56.85k per share.

Okomu Oil lost N2.64k to close at N63 per share, Dangote Cement fell by N1.91k to end at N215 per share, and Lafarge went down by 73k to finish at N52.77k per share.