The Nigerian bourse ended the fourth trading session on a negative note.
Consequently, the All-Share Index plunged by 1.27% to close at 34,577.26 points as against 35.021.26 recorded the previous trading session, while the market capitalization of equities dropped to N18.072trillion as market sentiment thread in the negative territory. A total volume of 553.9 million units of shares, valued at N6.63billion, exchanged hands in 6,441 deals. GUARANTY (-2.41%) finished the most traded shares by volume and value at 87.0million units and N2.82billion.
Analyzing sector performances, losses were recorded across all sectors. The Banking index (-4.14%) recorded another loss for the week, as Tier one banking stocks continued to wane.
Decline in MANSARD (-6.14%), AIICO (-5.41%), and NEM (-4.08%) dragged the Insurance index down by -3.72%. Accordingly, the Consumer Goods, Industrial, and Energy indexes followed to depreciate by 0.65%, 0.18%, and 0.08% respectively, on the back of price depreciation in GUINNESS (-9.83%), DANGSUGAR (-6.88%), WAPCO (-10.00%), and OANDO (-6.44%).
The local bourse recorded 40 losers against 6 gainers to begin trading on the negative route.
Top gainers
> OKOMUOIL up 10.00% to close at N88
MBENEFIT up 9.09% to close at N0.24
FTNCOCOA up 8.11% to close at N0.4
GLAXOSMITH up 1.52% to close at N6.7
UNILEVER up 0.38% to close at N13.05 Top Losers > WAPCO drops 10.00% to close at N20.25 GUINNESS drops 9.83% to close at N16.05 DANGSUGAR drops 6.88% to close at N17.6 ZENITHBANK drops 6.18% to close at N22 MTNN drops 0.77% to close at N155 Outlook Trading activities on the floor of the Nigerian Stock Exchange on Thursday closed on a bearish note following significant losses seen in NSE Stocks that include MTN Nigeria, Zenith Bank, Guinness, WAPCO. Nairametrics envisage cautious buying, amid prevailing circumstances in the Nigerian currency market, keeping investors a bit jittery.
