Dipo Olowookere
By Dipo Olowookere
Another loss was recorded on the floor of the Nigerian Stock Exchange (NSE) on Friday. The market depreciated by 0.46 per cent during the session and it was the third time in a row.
The decline was caused by profit-taking in banking and industrial goods stocks and this weakened the respective sectors by 2.48 per cent and 0.08 per cent.
Business Post reports that the gains in insurance, energy and consumer goods sectors by 0.39 per cent, 0.30 per cent and 0.13 per cent respectively could not save the market from falling.
At the close of transactions, the All-Share Index (ASI) decreased by 130.91 points to settle at 28,415.31 points as against 28,546.22 points of the previous day, while the market capitalisation reduced by N69 billion to finish at N14.852 trillion versus N14.921 trillion.
The market breadth was negative on Friday as a result of the 11 price gainers recorded at the close of business compared with the 21 price losers led by GTBank, which dropped N1.60 to settle at N30.40 per share.
Dangote Cement deflated by 50 kobo to N150 per unit, PZ Cussons lost 40 kobo to trade at N4.10 per share, United Capital decreased by 17 kobo to close at N3.54 per share, while Ecobank decreased by 15 kobo to quote at N4.30 per share.
The gainers’ chart was led yesterday by Total Nigeria after adding N5.20 to its share price to finish at N102 per unit and was followed by Eterna, which gained 33 kobo to sell for N3.63 per share.
International Breweries appreciated by 14 kobo to close at N4.72 per unit, Custodian Investment gained 10 kobo to finish at N5.25 per share, while BUA Cement improved by 10 kobo to quote at N41.50 per unit.
The level of activity further reduced on Friday as investors continue to sell-off to book profit after the market remained in the positive territory for 12 straight sessions.
Yesterday, a total of 384.1 million shares worth N4.0 billion exchanged hands in 5,759 deals as against the 569.4 million stocks worth N4.9 billion traded in 6,101 deals on Thursday, representing a decline in the trading volume, value and number of deals by 32.53 per cent, 18.61 per cent and 5.61 per cent respectively.
Caverton was the most traded stock yesterday by volume, selling 52.2 million units worth N93.8 million, while Zenith Bank traded 50.0 million equities valued at N1.0 billion.
FBN Holdings transacted 49.3 million stocks worth N306.7 million, GTBank sold 32.6 million stocks for N1.0 billion, while Access Bank traded 27.2 million shares valued at N215.2 million.
