Nigerian Stock Market Index Drops by 0.40%

Trading activities dropped on the Nigerian Stock Exchange (NSE) on Wednesday after two consecutive days of growth, with the All-Share Index reducing 0.40 per cent.

The index closed lower at 39,031.72 against 39,187.04 recorded on Tuesday, indicating a loss of 155.32 points or 0.40 per cent.

Also, market capitalisation which opened at N14.188 trillion shed N49 billion to close at N14.139 trillion.

Nigerian Breweries recorded the highest loss during the day, dropping by N2.10 kobo to close at N115 per share.

Dangote Sugar trailed with a loss of 50k to close at N19, while Zenith International Bank depreciated by 45k to close at N26.75 per share.

FBN Holdings was down by 30k to close at N10.90, while United Bank for Africa declined by 15k to close at N10.95 per share.

Conversely, Cement Company of Northern Nigeria led the gainers’ table, appreciating by N1 to close at N75.50 per share.

Flour Mills followed with a gain of 35k to close at N32.65, while UAC Property increased by 10k to close at N2.11 per share.

Union Bank of Nigeria rose 10k to close at N6.20, while Learn Africa grew by 7k to close at N1.51 per share.

A breakdown of the activity chart indicates that United Bank for Africa was the most active stock, exchanging 90.62 million shares worth N998.23 million.

United Capital trailed with an account of 78.69 million shares valued at N258.35 million, while Africa Prudential Registrar traded 72.10 million shares cost N312.59 million.

Access Bank sold 26.28 million shares valued at N282.27 million, while Africa Insurance Company recorded a turnover of 23.30 million shares worth N4.66 million.

In all, investors bought and sold 456.49 million shares valued at N4.13 billion achieved in 3,517 deals.

This was against a turnover of 341.48 million shares worth N5.19 billion traded in 3,769 deals on Tuesday.


The Guardian Newspaper June 13th, 2018

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