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Nigerian equity market dips further

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stock-exchangeActivities on the Nigerian Stock Exchange (NSE) on Thursday for the second consecutive day, maintained a negative posture with the market indicators dropping further by 0.59 per cent amid losses by blue chips.

The News Agency of Nigeria (NAN) reports that Nigerian Breweries topped the losers’ chart, dropping by N6.68 to close at N115.32 per share.

Lafarge came second with a loss of N1.50 to close at N71.50, while Dangote Cement dropped N1 to close at N168 per share.

Cadbury declined by 82k to close at N15.68, while Union Dicon shed 59k to close at N11.21 per share.

Consequently, the All-Share Index lost 151.63 points or 0.59 per cent to close at 25,563.79 compared with 25,715.42 achieved on Wednesday.

Also, the market capitalisation which opened trading at N8.845 trillion decreased by N52 billion or 0.59 per cent to close at N8.793 trillion.

Nestle Nigeria led the gainers’ table growing by N10 to close at N690 per share.

Forte Oil followed with a gain of N9.48 to close at N199.48 and Total garnered 97k to close at N157 per share.

Conoil appreciated by 82k to close at N17.27, while Guinness increased by 54k to close at N94 per share.

NAN also reports that the volume of shares traded closed lower as investors bought and sold 178.87 million shares worth N1.48 billion exchanged in 3,786 deals.

This was in contrast with a total of 330.57 million shares valued at N2.26 billion traded in 4,053 deals on Wednesday.

FBN Holdings remained the toast of investors with 27.84 million shares worth N98.74 million.

It was trailed by UBA with an exchange of 26.50 million shares valued at N92.39 million, while Zenith Bank sold 15.96 million shares worth N207.61 million.

Fidelity Bank traded 13.88 million shares valued at N15.22 million and Livestock Feeds accounted for 10.26 million shares worth N8.34 million



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