NSE Index drops 1.56% on weak bear tightens reins

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Transactions at the Nigerian Stock Exchange, NSE,  at the end of last week saw a snag with value of the bourse sinking lower.

To this end, the All-Share Index slumped by 1.56 percent or 600.94 points to settle at 37,933.70 points against the previous close of 38,534.64 points, with Year-to-Date (YtD) return standing at 41.15 percent.

Meanwhile, market capitalisation posted a growth of 0.57 percent, rising by N77 billion to finish at N13.497 trillion from N13.420 trillion recorded on Thursday.

The price movement chart saw Dangote Cement emerge the highest price loser, depreciating by N9.88k to close at N230 per share.

Flour Mills of Nigeria went down by N3.32k to finish at N30.87k per share, while Lafarge declined by N1 to settle at N44 per share.

NASCON dropped 69k to close at N19.31k per share, and Nigerian Breweries suffered a 65k loss to end at N139 per share.

Conversely, Seplat added N38.74k to lead the gainers’ log, closing at N540.5k per share at the close of business. It was trailed by Nestle, which rose by N1.55k to finish at N1464.5k per share, and Julius Berger, which appreciated by N1 to end at N28 per share.

Unilever increased by 40k to close at N40.70k per share, while GTBank went up by 10k to finish at N40 per share.

Financial Services sector transacted the highest volume of shares, exchanging a total of 218.7 million shares for N2.3 billion, and was followed by the Consumer Goods industry, which sold 31.7 million shares for N3.3 billion.

FBN Holdings recorded the highest volume of sales, trading 40 million shares worth N357.2 million.

It was trailed by FCMB, which sold 33 million shares valued at N43 million, and Zenith Bank, which exchanged 29 million shares for N729.2 million.

Fidelity Bank sold 25.5 million shares worth N60.8 million, while Diamond Bank transacted 25 million shares valued at N37.3 million.

It was gathered that the volume equities traded by investors on Thursday decreased by 10.69 percent from 323.95 million to 289.30 million, while the total value of shares traded increased by 41.36 percent from N4.4 billion to N6.2 billion.

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