Bearish sentiment persists as market indices decline by 0.17% Thursday

The bearish sentiments continued to dominate equities transactions on The Nigerian Stock Exchange (NSE) as the All-Share Index dropped by 0.17 per cent on Thursday after the work-free day to mark the May 29 inauguration date.

Specifically, the All-Share Index lost 52.81 points or 0.17 per cent to close at 31,254.19 compared with 31,307.00 achieved on Tuesday even as the market capitalisation which opened at N13.789 trillion shed N23 billion or 0.17 per cent to close at N13.766 trillion.

The market breadth closed in favour of the bull with 20 gainers against 19 decliners as Nestle led the gainers’ table, gaining N4.50 to close at N1,454 per share.

MTN Nigeria Communication followed with a gain of N3.45 to close at N136, while Stanbic IBTC appreciated by 75k to close at N43 per share.

United Bank for Africa added 35k to close at N6.60, while Julius Berger also garnered 35k to close at N23.85 per share.

Conversely, Unilever recorded the highest loss to lead the losers’ table, shedding N2.70 to close at N31 per share.

Dangote Cement trailed with a loss of N1.80 to close at N199.80, while Forte Oil was down by N1.10 to close at N26.90 per share.

Guaranty Trust Bank Plc declined by N1 to close at N32, while Ecobank Transnational Incorporated dipped 95k to close at N11.15 per share.

However, the volume of shares traded appreciated marginally by 9.44 per cent with an exchange of 376.80 million shares valued at N5.89 billion in 4,549 deals.

This was in contrast with a total of 344.31 million shares worth N7.27 billion transacted in 4,456 deals.

Union Diagnosis was the most active, trading 43.36 million shares valued at N10.41 million.

United Bank followed with an account of 42.61 million shares worth N280.20 million, while Zenith Bank traded 39.11 million shares valued at N803.81 million.

Access Bank sold 34.38 million shares valued at N220.11 million, while Law Union and Rocks traded 29.58 million shares worth N14.19 million