The Nigerian bourse ended the fourth trading session on a negative note.
Consequently, the All-Share Index plunged by 1.27% to close at 34,577.26 points as against 35.021.26 recorded the previous trading session, while the market capitalization of equities dropped to N18.072trillion as market sentiment thread in the negative territory.
- A total volume of 553.9 million units of shares, valued at N6.63billion, exchanged hands in 6,441 deals. GUARANTY (-2.41%) finished the most traded shares by volume and value at 87.0million units and N2.82billion.
- Analyzing sector performances, losses were recorded across all sectors. The Banking index (-4.14%) recorded another loss for the week, as Tier one banking stocks continued to wane.
- Decline in MANSARD (-6.14%), AIICO (-5.41%), and NEM (-4.08%) dragged the Insurance index down by -3.72%. Accordingly, the Consumer Goods, Industrial, and Energy indexes followed to depreciate by 0.65%, 0.18%, and 0.08% respectively, on the back of price depreciation in GUINNESS (-9.83%), DANGSUGAR (-6.88%), WAPCO (-10.00%), and OANDO (-6.44%).
The local bourse recorded 40 losers against 6 gainers to begin trading on the negative route.
Top gainers
- OKOMUOIL up 10.00% to close at N88
- MBENEFIT up 9.09% to close at N0.24
- FTNCOCOA up 8.11% to close at N0.4
- GLAXOSMITH up 1.52% to close at N6.7
- UNILEVER up 0.38% to close at N13.05
Top Losers
- WAPCO drops 10.00% to close at N20.25
- GUINNESS drops 9.83% to close at N16.05
- DANGSUGAR drops 6.88% to close at N17.6
- ZENITHBANK drops 6.18% to close at N22
- MTNN drops 0.77% to close at N155
Outlook
Trading activities on the floor of the Nigerian Stock Exchange on Thursday closed on a bearish note following significant losses seen in NSE Stocks that include MTN Nigeria, Zenith Bank, Guinness, WAPCO.
- Nairametrics envisage cautious buying, amid prevailing circumstances in the Nigerian currency market, keeping investors a bit jittery.
