Modupe Gbadeyanka
By Modupe Gbadeyanka
Activities on the Nigerian Stock Exchange (NSE) on Thursday closed bearish after the previous day’s marginal gain.
The stock market shed 0.30 percent amid profit taking by investors, who breathed fresh air yesterday after two straight losses on Monday and Tuesday.
Losses recorded by Nigerian Breweries and UACN weighed down the equity market today.
While the all-share index dropped 74.97 basis points to end at 25,055.29 basis points, the market capitalisation posted a loss of N26 billion to finish at N8.67 trillion.
The volume of shares traded at the market today recorded a fall with investors exchanging a total of 144.4 million units worth N1.5 billion executed in 2,303.
This is in contrast to 162 million shares bought and sold at the stock market yesterday at N1.8 billion in 4,216 deals.
In addition, a total of 17 stocks depreciated on the floor of the NSE led by Nigerian Breweries, which dropped N4.48k to close at N113.2k per share.
UACN recorded a 75k loss to end at N14.35k per share, while Stanbic IBTC declined by 50k to finish at N16.50k per share.
Forte Oil weakened by 18k to close at N62.32k per share and Vita Foam went down by 10k to end at N1.98k per share.
However, 16 stocks appreciated on the price movement chart on Thursday led by Julius Berger, which advanced by N1.74k to close at N36.57k per share.
GTBank grew by 20k to end at N24 per share and First Bank increased by 14k to finish at N3.34k per share.
Also, Total improved by 11k to finish at N270.11k per share and Eterna appreciated by 10k to close at N3.34k per share.
UBA and GTBank shares were investors’ delight today with UBA accounting for 30.4 million units sold at N146.8 million and GTBank trading 23.6 million shares valued at N566.7 million.
Investors hope that the loss recorded at the market on Thursday will be reversed tomorrow, which is the last trading day for the week.
