Bearish trend persists as NSE market indicators down 0.1% Friday

The week-long bearish trend persisted on Friday with the All-Share Index of the Nigerian Stock Exchange (NSE) declining further by 0.1 per cent, due to profit taking even as the index which opened at 29,300.09 and closed lower at 29,270.95.

Also, the market capitalisation lost N33 billion or 0.1 per cent to close at N12.901 trillion, compared with N12.914 trillion achieved on Thursday.

Conoil led the gainers’ table, increasing by N2.15 to close at N23.80 per share, followed by Flour Mills followed with a gain of N1 to close at N15, while Cement Company of Northern Nigeria added 25k to close at N15.25 per share.

Cadbury appreciated by 25k to close at N11, while Lafarge Africa appreciated by 15k to close at N4 per share.

Conversely, Guaranty Trust Bank recorded the highest loss, to lead the losers’ chart, dropping by 50k to close at N20 per share.

Union Bank of Nigeria trailed with a loss of 15k to close at N6.85, while Zenith Bank also lost 15k to close at N19.35 per share.

Learn Africa declined by 14k to close at N1.32, while NEM Insurance was down by 13 k to close at N2.15 per share.

Investors traded 298.404 million shares worth N1.829 billion in 3377 deals against 180.472 million shares, valued at N2.077 billion in 3862 deals.

An analysis of the activity chart indicates that Wapic Insurance was the toast of investors, exchanging 78.33 million shares worth N31.33 million.

Morison Industries followed with an account of 45.46 million shares, valued at N24.56 million, while FBN Holdings traded 35.47 million shares worth N220.40 million.

United Bank for Africa sold a total of 28.59 million shares valued at N172.93 million, while Zenith Bank exchanged 23.11 million shares worth N448.34 million.

In all, investors bought and sold 298.40 million shares valued at N1.83 billion transacted in 3,377 deals.

This was in contrast to a turnover of 180.47 million shares worth N2.08 billion achieved in 3,962 deals on Thursday.