NSE Index Dip 0.11% Bear Halts Seven-day Rally

Transactions on the floor of the Nigerian Stock Exchange, NSE, on Thursday, August 10,crashed, bringing an abrupt end to a seven consecutive day bull run.

The All Share Index plummeted by 0.11% or 41.17 points to close at 38,102.85 basis points while the market capitalization dropped N14.2 billion to close at N13.133 trillion.Activity chart showed that there were 27 losers paired against 20 gainers with Forte Oil Plc leading the laggards’ chart with a loss of 9.71 percent to close at N53.76 per share.Oando slumped by 5 per cent to close at N7.22 per share while NASCON depreciated 4.99 per cent to close at N12.57 per share. Morison Industries and Dangote Sugar declined 4.85 per cent and 4.84 per cent to close at 98 kobo and N13.56 per share respectively.Conversely, Unilever led the day’s advancers with an appreciation of 5 percent to close at N43.05 per share.

BOC Gases came second on the gainers list after adding 4.94 per cent to close at N3.61 per share and Conoil gained 4.38 per cent to close at N34.30 per share. Guinness and Wema Bank also added 4 per cent and 3.92 per cent respectively to close at N91 and 53 kobo per share.Access Bank topped activity chart as investors traded a total of 69.8 million units valued at N712.4 million. Zenith Bank sold 58.8 million shares worth N1.4 billion, while FCMB exchanged 47.2 million units valued at N57.3 million.Diamond Bank transacted 33.2 million shares at N43.2 million, and Guaranty Trust Bank exchanged 26.8 million shares worth N1.1 billion.At the end of trading, investors in 4,055 deals moved a total of 362.7 million units of shares valued at N5.597 billion, compared to 328.7 million shares worth N6.1billion traded in 4,983 deals on Wednesday.