NSE index plunges further by 0.25%
04 December 2020 |
4:13 am
Negative sentiments persisted on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as the All-Share Index (ASI) depreciated further by 0.25 per cent
Negative sentiments persisted on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as the All-Share Index (ASI) depreciated further by 0.25 per cent
At the closed of transactions, ASI shed 87.88 absolute points, representing a decline of 0.25 per cent, to close at 34,968.94 points while the market capitalisation value also declined by N46 billion to close at N18.277 trillion.
The downtrend was driven by price depreciation in medium and large capitalised stocks – Guaranty Trust Bank, Flour Mills of Nigeria, Cadbury Nigeria, United Bank for Africa (UBA) and Zenith Bank.
Market sentiment, as measured by market breadth, was negative as 25 stocks declined relative to 13 gainers. Mutual Benefits Assurance recorded the highest price gain of 9.52 per cent to close at 23 kobo.
Royal Exchange followed with a gain of 9.09 per cent to close at 24 kobo while FTN Cocoa Processors rose by eight per cent to close at 27 kobo.
Ardova Plc went up by 7.69 per cent to close at N14.00 while Cutix appreciated by 5.56 per cent to close at N1.90 kobo.
On the other hand, Unity Bank led the losers’ chart by 9.86 per cent to close at 64 kobo. Chams followed with a decline of eight per cent to close at 23 kobo while Nigerian Aviation Handling Company (NAHCO) declined by 6.81 per cent to close at N2.19 kobo.
Consolidated Hallmark Insurance lost 6.67 per cent to close at 28 kobo just as Ecobank Transnational Incorporated (ETI) shed 6.35 per cent to close at N5.90 kobo.
The total volume of trades decreased by 21.5 per cent to 289.394 million units, valued at N7.348 billion and exchanged in 4,878 deals.
Transactions in the shares of UBA topped the activity chart with 34.452 million shares valued at N283.444 million. Zenith Bank followed with 31.201 million shares worth N743.575 million while MTN Nigeria Communications traded 27.412 million shares valued at N4.379 billion.
Access Bank traded 22.958 million shares valued at N196.039 million while Mutual Benefits Assurance transacted 22.490 million shares worth N5.063 million.
Related
14 hours ago
The Lagos Chamber of Commerce and Industry (LCCI) is deeply worried about the various economic headwinds confronting the stability of the Nigerian economy.
14 hours ago
Worried by the dwindling oil production and the need to drive investments in the nation’s oil and gas sector, the Federal Government, through the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has underscored the imperative of ramping up production as a pivotal strategy to ensure stability in the midstream and downstream sectors of the industry.
14 hours ago
The Nigerian Ports Authority (NPA) is awaiting the Debt Management Office's (DMO) final review and approval of Citibank's $700 million loan mandate, which will fund the rehabilitation of the Apapa and Tin-Can Island ports in Lagos.
1 day ago
A foreign investor at TLG Capitals, Isaac Marshall, has attributed the naira gain to the decision of the Central Bank of Nigeria (CBN) to clear the FX backlog. Nigeria's foreign exchange (FX) reserves have fallen to a six-year low, Marshall said in a statement on his LinkedIn account on Thursday. He stated that this decline…
1 day ago
Stakeholders in the insurance and pension industry have called on operators in the sectors to adopt artificial intelligence (AI) to drive business expansion in the country.
1 day ago
Though it does not have the power to regulate prices, the Federal Competition and Consumer Protection Commission (FCCPC) will deploy an existing legal framework to enforce fair competition and consumer protection provisions to achieve fair prices of commodities.
1 day ago
Inflation in Nigeria is reaching its peak now and will decelerate toward the middle of the year, Director-General of the Budget Office of the Federation, Ben Akabueze, has said.
1 day ago
Nigerian Breweries (NB) Plc has disclosed that the proposed N600 billion recapitalisation scheme by way of rights issue would settle N153 billion outstanding foreign exchange (FX) losses and part of its local bank debt facility.
1 day ago
The International Renewable Energy Agency (IRENA) is seeking a new approach to energy security amidst geopolitical concerns and a push from fossil fuels.
1 day ago
The Chartered Institute of Bankers of Nigeria (CIBN) 2024 yearly lecture, slated to take place on April 23, at the Civic Center, Victoria Island, Lagos, has its theme as "Improving Availability of Credit in the Nigerian Real Economy: The Critical Importance of Liquidity."
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.