NSE: Stock Market Ends In Red As Index Sinks By 0.24%

NSE Stock Market

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) finished the week on Friday in the red zone with the market recording losses in everyday of the week.

The all-share index dipped deeper at the close of activities today by 0.24 percent or 62.25 basis points to close at 25,537.54 basis points, while the market capitalisation fell by N21.4 billion to finish the week at N8.79 trillion compared to N8.81 trillion it achieved the previous day.

At the close of market today, Seplat shed N18.5k to close at N342.95k per share, while Flour Mill lost N1.74k to finish N16.20k per share.

Also, PZ slumped by 78k to end at N14.99k per share, Berger Paints declined by 66k to close at N6.23k per share and Okomu Oil collapsed by 47k to finish at N42 per share.

Diamond Bank and First Bank were the most traded equities at the capital market today.

While Diamond Bank exchanged 35.4 million shares at N31.9 million, First Bank traded 27.2 million units valued at N82.9 million.

A total of 17 stocks dropped in value at the equities market on Friday, while 16 stocks remained unchanged and 14 appreciated in prices.

The improving stocks were led by Transcop Hotel with a gain of 48k to close at N5.25k per share and Ashaka Cement going up by 23k to end at N11 per share.

Also, Oando rose by 18k to finish at N3.96k per share, Dangote Sugar picked 17k to close at N6.48k per share and Dangote Flour gained 13k to finish at N3.73k per share.

Investors traded 165.6 million shares today in 2,279 deals valued at N888.2 million compared to 161.6 million shares exchanged in 2,086 deals worth N1.19 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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