NSE moves 361.11m shares valued N4.26bn in bearish market

The Nigerian Stock Exchange (NSE), on Friday transacted 361.11 million shares valued at N4.28 billion in 4,602 deals just as the indices dropped by 0.55 per cent.

The News Agency of Nigeria (NAN) reports that this was in contrast with 431.92 million shares worth N7.82 billion exchanged in 4,516 deals on Thursday.

The banking stocks dominated the activity chart with Zenith Bank emerging most active, exchanging 85.84 million shares valued at N1.65 billion.

It was trailed by Guaranty Trust Bank with an account of 43.95 million shares worth N1.08 billion, while United Bank for Africa traded 34.92 million shares valued at N242.74 million.

Access Bank sold 24.66 million shares valued at N214.61 million, while Fidelity Bank exchanged 22.79 million shares worth N45.25 million.

However, the All-Share Index dipped 146.59 points or 0.55 per cent to close at 26,279.61 against 26,426.20 posted on Thursday.

Also, the market capitalisation which opened at N13.770 trillion dipped N77 billion to close at N13.694 trillion.

An analysis of the price movement chart indicate that Zenith Bank topped the losers’ chart dropping by N1.20 to close at N18.80 per share.

Stanbic IBTC trailed with a loss of N0.70 to close at N35, while Ecobank Transnational lost 60k to close at N5.85 per share.

Unilever was down by 50k to close at N13, while FBN Holdings declined by 40k to close at N5.35 per share.

Conversely, Mobil Oil led the gainers’ table for the day, gaining N13.30 to close at N146.50 per share.

BUA Cement followed with a gain of 55k to close at N35.30, while Redstar increased by 29k to close at N3.27 per share.

Union Bank of Nigeria added 20k to close at N7.50, while May and Baker gained 19k to close at N2.15 per share. (NAN)