The Nigerian Stock Exchange closed its first day of trading 2014 on a negative note with the All Share Index losing 2.08% to close lower at 33,943. A total of 16 stocks gained whilst another 29 stocks joined the losers table. Key drivers of today’s trading are the likes of Ecobank, GTB, Zenith Bank, which posted 97.3m, 49.5m, 33.8m, 35m in volume respectively. Topping the gainers chart was RT Briscoe with a 9% pop followed by Oando which turned in a nice 8% gain in price. Seplat dropped by 5.2% to lead the losers chart followed by GSK and Dangote Cement with another 5% loss respectively.
The All Share Index tanked heavenly late November all the way to December 18 before picking up again. Most analysts are expecting frequent volatility as the continuous fall in price of oil, potential fiscal crisis in Nigeria and the impending election weighs in on investment sentiments. See list of top ten gainers and loser