NSE LIVE! Equities relapse with N48b loss | Ripples Nigeria
Connect with us


NSE LIVE! Equities relapse with N48b loss



NSE LIVE! Equities remain down as selloff persists

After a breather from running price depreciation on Wednesday, Nigerian equities relapsed on Thursday into the negative as increased sell-offs shaved off N48 billion from market value of quoted companies.

Key indices at the Nigerian Stock Exchange (NSE) showed widespread selling sentiments as the release of the much-awaited first-half results of Zenith Bank further dampened investors’ appetite.

Aggregate market value of all quoted equities on the NSE dropped from its opening value of N9.418 trillion to close at N9.370 trillion, representing a net capital loss of N48 billion.

The All Share Index (ASI), the benchmark index that tracks prices at the NSE, also declined by 0.51 per cent from 27,421.83 points to close at 27,280.95 points.

With nearly two losers to every gainer, the stock market was overwhelmed by low investors’ appetite, especially in the influential banking sector. The NSE Banking Index declined by 1.7 per cent.

The NSE Industrial Goods Index dropped by 1.1 per cent while the NSE Oil & Gas Index and NSE Consumer Goods Index declined by 0.4 per cent each. However, the NSE Insurance Index which inched up by 0.02 per cent. Average year-to-date return worsened to-4.75 per cent.

Read also: NSE LIVE! High-cap stocks rally equities to N51b gain

Seven-Up Bottling Company led the 24-stock losers’ list with a loss of N5.26 to close at N102.60. Total Nigeria dropped by N5 to close at N235. CAP declined by N1.67 to close at N31.73. Lafarge Africa dropped by N1.30 to close at N50.20. Nigerian Breweries declined by N1.03 to close at N131.92 per share. PZ Cussons Nigeria lost 95 kobo to close at N18.05.

Zenith Bank dipped by 40 kobo to close at N15.60. Ecobank Transnational Incorporated dropped by 30 kobo to close at N11.38. Guaranty Trust Bank dropped by 29 kobo to close at N24 while Oando depreciated by 28 kobo to close at N5.42 per share.

Total turnover stood at 243.60 million shares valued at N2.56 billion in 3,647 deals. Banking stocks dominated the top activities chart. Zenith Bank, which recorded a low first half performance, was the most traded with a turnover of 39.29 million shares valued at N625.63 million.

Guaranty Trust Bank followed with 39.20 million shared worth N962.77 million while Access Bank recorded a turnover of 37.35 million shares worth N208.62 million.

Meanwhile, Forte Oil led 13 other stocks on the gainers’ list, rising by N2.74 to close at N169.56. International Breweries followed with a gain of N1.12 to close at N20. Guinness Nigeria added 75 kobo to close at N95.75. Stanbic IBTC Holdings rose by 40 kobo to close at N13.90.

Dangote Flour Mills gathered 17 kobo to close at N4.34 while Dangote Cement and African Prudential Registrars chalked up 11 kobo each to close at N180.15 and N2.76 respectively.




RipplesNigeria …without borders, without fears

Join the conversation


Join the conversation



Latest Tech News