Market suffers four-day consecutive losses, dropping N83bn

Equities segment of the Nigerian Stock Exchange (NSE) recorded fourth consecutive loss on Thursday  as The NSE All-Share Index and Market Capitalization which opened the week’s trading activities on Monday at 26,707.10 basis points and N9.189 trillion respectively closed at 26,464.82 basis points and N9.106 trillion, translating to a loss of N83 billion in the four days.

The loss has been attributed to profit taking and sell off by investors to meet the needs of the Christmas and New Year celebrations around the corner.

Meanwhile, a total of 188.684 million shares valued at N1.388 billion were traded in 3,161.00 on Thursday.

The most appreciated stock of the day was FO which began the day trading at N85.47 and closed at N94.22 as it gained N8.75; CONOIL rose from N35.8 to close at N39.4, having gained N3.65; BETAGLAS, from its opening price of N28.88, it closed at N31.83 as it gained N2.95; GUINNESS closed at N88.73 as it added N1.23 to its opening price of N87.5; CCNN from the opening value of N4.42, it closed at N4.63 as it managed a gain of N0.21

The top five decliners of the day was led by PRESCO  which opened at N42 and closed at N40.01as it was marked down by N1.99; INTBREW followed with a loss of  N0.66 to close at N17.3 from its opening value of N17.96; CAP  which opened the day trading at N31.6 closed at N31.00 as it made a loss of N0.6; GUARANTY, from its opening value of N24.8, it closed at N24.66 as it suffered a depreciation of N0.14 and HONYFLOUR from its opening value of N1.29, it closed at N1.23 having recorded a loss of N0.06.

DIAMONDBNK recorded the highest volume of trade in the day as  it accounted for 35.457 million shares valued at N31.915 million; STERLNBANK traded 20.696 million shares  in N15.694 million; FBNH pulled 15.548 million shares at N54.373million; TRANSCORP  traded 14.079 million shares at N12.015 million while UCAP  traded 12.271 million shares  with the attached value of N34.092 million.