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Market dip by 2.33% as investors lose N226.2bn

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As against huge gains of N282 billion on Thursday, investors on the Nigerian Stock Exchange recorded a loss of N226 billion on Friday to close the market transactions for the week.

All Share Index (ASI) recorded a loss of 2.33 per cent today to close at 27,756.67 basis points while Market Capitalization which is the total market value of all quoted firms on the Exchange  to close at N9.525 trillion as against the close of  N9.761 trillion in the preceding day.

The day transaction recorded 21 gainers to 12 losers, the year to date losses reduced to -3.09 per cent from.

Dangote Cement Plc reversed yesterday’s position to lead the day’s declining stocks following a drop of 7.85 per cent or N14.99 in its share price to close at N176.01 per share;  Africa Prudential Registrars Plc lost 4.791 per cent or 13 kobo to close at N2.52 per share, Caverton Offshore Plc dropped 4.32 per cent or 6 kobo to close at N1.33 per share; Oando Plc depreciated by 4.23 per cent or 21 kobo to close at N4.76 per share and Unity Bank Plc fell 3.85 per cent or 3 kobo to close at 75 kobo per share.

On the flip side Wema Bank Plc led the day’s advancing stocks having improved by 8.70 per cent or 6 kobo to close at 75 kobo per share; FCMB Plc added 7.48 per cent or 8 kobo to close at N1.15 per share; Seplat Petroleum Plc followed with a growth of 5.00 per cent or N15.15 to close at N318.33 per share; Cadbury Plc gained 4.29 per cent or 60 kobo to close at N14.60 per share, and Sterling Bank Plc appreciated by 4.12 per cent or 4 kobo to close at N1.01 per share.

The value of stocks traded on the floors of The NSE amounted to N3.4 billion with 309.4 million shares exchanging hands in 3,723 deals.

The top three traded stocks were: Guaranty Trust Bank Plc with the sale of 79.4 million shares worth N2.1 billion, UBA Plc followed, trading 73.9 million stocks valued at N321.0 million and Fidelity Bank Plc exchanged 43.3 million shares worth N39.5 million.

 

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