Bearish Trend: NSE Moves 307.79m Shares Valued At N2.91bn

The Nigerian Stock Exchange (NSE) on Friday moved 307.79 million shares valued at N2.91 billion exchanged in 4,393 deals. This was in contrast with 426.27 million shares worth N4.75 billion traded in 4,972 deals on Thursday, a decrease of 27.79 per cent.

An analysis of the activity chart indicates that FBN Holdings was the toast of 85.58 million shares valued at N624.73 million. United Capital followed with an account of 52.32 million shares worth N341.82 million, while United Bank for Africa sold 23.35 million shares valued at N192.95 million. Zenith Bank accounted for 17.58 million shares worth N431.96 million, Guaranty Trust Bank traded 11.45 million shares valued at N348.56 million.

Also, the market capitalisation of listed equities declined by N11 billion to N21.025 trillion from N21.036 trillion reported on Thursday. Similarly, the NSE All-Share Index lost 25.49 basis points or 0.06 per cent to 40,186.70 from 40212.19 achieved on Thursday.

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Stanbic IBTC led the laggards’ chart in percentage terms with a loss of 10 per cent to close at N38.70 per share. May & Baker trailed with 9.89 per cent to close at N4.19, while Multiverse dipped 8.33 per cent to close at 22k. Neimeth dropped 7.80 per cent to close at N2.01, while Royal Exchange lost 7.41 per cent to close at 25k per share.

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On the other hand, Livestock dominated the gainers’ table in percentage terms, increasing by 9.27 per cent to close at N2.24 per share. Portland Paint followed with 8.70 per cent to close at N3.25, while FTN Cocoa increased by 8.16 per cent to close at 53k. United Capital appreciated by 6.19 per cent to close at N6.35, while Africa Prudential improved by 5.80 per cent to close at N7.30 per share.