Activities Slow Down At NSE

NIGERIA-FINANCE-BANKING-STOCK-EXCHANGE

Activities on the Nigerian Stock Exchange (NSE) closed lower on Thursday as transactions dropped in value and volume terms.

The value of shares traded dropped by 35.86 per cent, while the volume of shares declined by 49.11 per cent as a total of 176.97 million shares valued at N3.38 billion were traded in 3,704 deals as against the 347.78 million shares worth N5.27 billion traded in 6,281 deals on Wednesday.

Market capitalisation declined by N55 billion to close at N11.88 trillion against N11.93 trillion posted on Wednesday following price losses while indicators dropped by 0.46 per cent as a result of profit taking.

Similarly, the All-Share Index, which opened at 37,135.74, lost 171.97 points or 0.46 per cent to close at 36,963.77.

Unilever recorded the highest price loss, shedding N3.80 to close at N61 per share, while Presco followed with a loss of N2.85 to close at N35.13, while GT Bank dipped by 90 k to close at N25.10 per share. Zenith Bank dropped 61k to close at N20.50, while Red Star Express dropped 41k to close at N4.59 per share.

Nigerian Breweries led the gainers’ chart, advancing by N1.35 to close at N156.01 per share, followed by International Breweries with a gain of N1.02 to close at N27, while Livestock gained 54k to close at N5.98 per share. Air Service rose by 40k to close at N5.20, while NAHCO grew by 20k to close at N6.62 per share.

Banking stocks remained the toast of investors as GT Bank emerged the most traded equity with 21.29 million shares valued at N536.49 million in 470 deals. Zenith Bank came second on the activity chart, accounting for 17.68 million shares worth N363.29 million in 414 deals while Access Bank sold 11.43 million shares valued at N126.01 million in 311 deals.