NSE Index Slips Further by 1.64%, as Bear Tightens Reins
The downward spiral on the floor of the Nigeria Stock Exchange, NSE, lingered on Thursday,as the All Share Index shed 1.64 percent to close at 32,928.44 basis points. The Market Capitalization also shed N189 billion to close at N11.387 billion compared to N11.576 trillion it settled at following a loss of N311 billion on Wednesday.
Most sector index also closed lower in the course of the day’s trading activities. The Banking index dipped 2.35 percent, consumer goods index was down by 2.63 percent at the end of the day while oil and gas fell by 0.42 percent. Activity chart showed May & Baker leading 45 stocks on the losers’ chart dropping 9.62 percent. Transcorp trailed behind with a decline of 9.52 percent to close at N1.52 per share, while Wema Bank closed 8.96 percent lower at 61 kobo per share. ETI also closed the day with a loss of 8.47 percent to close at N13.20 while Diamond Bank declined by 8.20 percent each to close at N1.12 per share.
Conversely, Neimeth topped the day’s gainers with a surge of 10.24 percent to close at N44.56 per share. Ashaka Cement was next with an increase of 10.16 percent to close at N16.27. Berger Paints followed with a gain of 10.05 percent to close at N7.12, Neimeth gained 9.52 percent to close at 92 kobo per share and Livestock Feeds appreciated 9.09 percent to close at N1.08 per share. At the end of trading, volume of shares traded in 5,321 deals rose ,modestly to 509.8 million as against 508.7 million on Wednesday. Value traded however fell to N5.03 billion from N6.4 billion traded on Wednesday.