NSE: Investors further lose N86.6 billion

Equities trading on the Nigerian Stock Exchange (NSE) closed the week on a negative run on Friday as the benchmark index further lost by 0.62 per cent, as the market remained on the red zone through the week.

The All-Share Index (ASI) decreased by 166.14 absolute points, representing a dip of 0.62 per cent to close at 26,808.24 points. Similarly, the overall market capitalisation size declined by N86.6 billion from N14 trillion mark closing at N13.965 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Flour Mills of Nigeria, Stanbic, Guaranty Trust Bank, Nigerian Breweries and United Bank for Africa.

Market breadth closed negative, with 13 gainers versus 19 losers. Jaiz Bank recorded the highest price gain of 9.43 per cent, to close at 58 kobo per share. Law Union followed with a gain of 7.95 per cent to close at N0.95 kobo, while NACHO Plc rose by 7.04 per cent to close N2.89 kobo, per share.

May and Bakers went up by 4.81 per cent to close at N1.96, while AiICO Insurance rose by 3.66 per cent to close at 85 kobo per share.

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On the other hand, Flour Mills Nigeria Plc led the losers’ chart by 8.70 per cent, while Chi Plc declined by 6.90 per cent to close at 27 kobo, while NPF Microfinance Bank declined by 6.25 per cent to close at N1.05kobo.

Stanbic IBTC Holdings went down by 6.23 per cent to close at N36.10 kobo, while Oando shed 5.66 per cent to close at three naira per share.

The total volume of trades on the local bourse for the day increased to 231.53 million units, valued at N4.48 billion and exchanged in 3,606 deals. Transactions in the shares of Zenith Bank UBA topped the activity chart with 45.57 million shares valued at N868.090 million, followed with 39.498 million shares worth N1.8 billion of Nigerian Breweries shares.

Guaranty Trust Bank traded 35.62 million shares valued at N949.077million, while United Bank for Africa traded 25.5 million shares worth N177.2 million, just as FBN Holdings traded 18.61 million worth N99.21 million.

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