• Thursday, December 07, 2023
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Panic selling takes toll on capital market activities


Activities on the Nigerian Stock Exchange (NSE) on Thursday for the third consecutive day ended on a bearish note as a result of sell pressure over non-declaration of dividend by some banks in 2012.

The market capitalisation lost N16 billion to close at N10.69 trillion against the N10.71 trillion recorded on Wednesday.

Similarly, the All-Share Index, which opened at 33,665.58, lost 198.82 points to close at 33,466.76.

Nigerian Breweries led the losers’ table with a loss of N3.95 to close at N164.05 per share. Guinness trailed with N2 to close at N262, while Unilever dropped by N1.96 to close at N52.04 per share.

UACN dipped by N1.08 to close at N55, while Dangote Cement shed 80k to close at N156.22 per share.

Garba Kurfi, the chief executive officer, APT Securities and Funds Ltd., attributed the development to investors disappointment over non-declaration of dividend by some banks in 2012, the second year running.