Stock market ends week on bearish note

Activities on the Nigerian stock exchange (NSE) closed for the week on Friday on a Negative note, with the turnover volume appreciating by 32.70 percent, while market indices dipped by 0.81 percent.

The All Share Index closed the week at 28,192.46 points against the preceding day’s close of 28,423.70 points while Market Capitalization closed at N9.745 trillion as against the preceding day of N9.825 trillion down by 0.81%.

In the same vein, the markets indicators declined with a growth of 0.81 percent or 231.24 points while the Year-to-Date (YtD) return stood at 4.90%

Nestle Nigeria Plc led the basket of sixteen (16) stocks that recorded share price incline on Friday12 at the Nigeria stock exchange (NSE). Only sisteen (16) stocks gained against 37 losers.

The Nigeria stock exchange reports that a total of 1 billion shares valued at N9.191 billion were exchanged by investors in 5,342 deals. This was in contrast with a turnover of 267.637 billion, shares worth N3.257 billion, transacted by investors in 3,907 deals on Thursday.

An analysis of the price movement table indicated Nestle Nigeria Plc gained N35 taking it from N800 to N835; Seplat Petroleum Development Company Plc followed after N16.43 kobo gain, from N383.57 to N400; Nigeria Breweries Plc gained N6.19 kobo, from N142.81 to N149. Total Nigeria Plc rose from N263 to N268.9, adding N5.9 kobo; while Guinness Nigeria Plc gained N2.94, from N66.06 to N69.

 

Dangote Cement Plc declined most by N8.3 kobo from N173.3 to N165 Unilever Nigeria Plc followed after losing N1.44 kobo, from N37.45 to N36.01 Stanbic IBTC Holdings Plc declined by N1, from N27 to N26; Okomu Oil Palm Plc dipped from N51 to N50, down by N1; while Oando Plc lost 92 kobo, from N9.54 to N8.62.
Diamond Bank Plc sold 21.78 million shares valued at N 27.78 million and FCMB Group traded 45.43 million shares worth N49.74million.The financial services sector led the Friday activity chart as FBN Holdings Plc drove the activity chart with an exchange of 538.31million shares worth N2.15 billion. Zenith International Bank Plc followed having accounted for 106.35 million shares valued at N1.96 billion and Guaranty Trust Bank Plc  traded 74.85 million shares worth N59.56million.