Nigerian equity market sheds 0.24%

The Nigerian equity market on Friday closed the week on a bearish trend, with market indices dropping by 0.24 per cent, amid huge loses by some highly capitalised stocks.

The News Agency of Nigeria (NAN) reports that the All-Share Index shed 62.25 points or 0.24 per cent to close at 25,537.54, compared with 25,599.79 posted on Thursday.

Similarly, market capitalisation lost N21 billion or 0.24 per cent to close at N8.791 trillion against N8.812 trillion recorded on Thursday.

A breakdown of the price movement chart showed that Seplat topped the losers’ chart, dropping by N18.05 to close at N342.95 per share.

Flour Mills came second with N1.74 to close at N16.20 and PZ shed 78k to close at N14.99 per share.

Berger Paint dipped 66k to close at N6.23 and Okomu Oil lost 47k to close at N42 per share.

On the other hand, Transcorp Hotel led the gainers table, gaining 48k to close at N5.25 per share.

Ashaka Cement followed with a gain of 23k to close at N11 and Oando gained 18k to close at N3.96 per share.

Dangote Sugar improved by 17k to close at N6.48, while Dangote Flour gained 13k to close at N3.73 per share.

NAN also reports that Diamond Bank emerged the most traded in volume terms, accounting for 35.41 million shares worth N31.86 million.

FBN Holdings accounted for 27.17 million shares valued at N82.88 million and Access Bank traded 23.73 million worth N130.51 million.

Sterling Bank sold 16.44 million shares valued at N12.55 million and Transcorp exchanged 12.24 million shares worth N8.69 million.

In all, investors bought and sold 165.58 million shares valued at N888.17 million exchanged in 2,279 deals.

This was in contrast with 161.59 million shares worth N1.19 billion transacted in 2,086 deals.