NSE moves 437.85m shares worth N2.78bn in bearish trading

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Dealers on the Nigerian Stock Exchange (NSE) on Friday exchanged 437.85 million shares valued at N2.78 billion in a total of 2,647 deals.

The News Agency of Nigeria (NAN) reports that this was a remarkable increase from 271.66 million shares worth N1.61 billion exchanged in 2,988 deals on Thursday.

United Bank for Africa emerged the most active stock with a turnover of 250.47 million shares valued at N811.42 million.

GT Bank followed with 42.76 million shares worth N650.49 million, while NEM Insurance traded 26.75 million shares worth N21.554 million.

Fidelity Bank sold 22.06 million shares valued at N30.34 million and Zenith Bank accounted for 16.89 million shares valued at N190.89 million.

Forte Oil recorded the highest loss to lead the losers’ table, dropping N14.66 to close at N278.57 per share.

Nestle came second with a loss of N4.99 to close at N640.01, while MRS Oil dipped N2.35 to close at N44.83 per share.

PZ lost N2.28 to close at N21.22 per share and Lafarge Africa dropped N2 to close at N74 per share.

Specifically, the All-Share Index lost 26.89 points or 0.11 per cent to close at 24,719.27 points as against 24,741.16 points recorded on Thursday.

Similarly, market capitalisation which opened at N8.51 trillion dropped N10 billion to close at N8.50 trillion.

On the other hand, Seplat led the gainers’ log by N21.85 to close at N332.15 per share.

Mobil garnered N2.06 to close at N151.25 per share, while UACN gained 94k to close at N19.40 per share.

Dangote Cement appreciated by 72k to close at N160.97 per share and Stanbic IBTC rose by 65k to close at N13.65 per share. (NAN)

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