NSE’s index plunges further by 0.04 per cent

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Nigerian Stock Exchange

Trading on the ground of the Nigerian Stock Exchange (NSE) continued on a downturn yesterday, as extra blue chip shares depreciated in worth, inflicting the All -Share Index (ASI) declined marginally by zero.04 per cent.

Precisely, on the shut of transactions yesterday, the All Share Index (ASI) shed 17.02 factors, representing a decline of zero.04 per cent to shut at 41,155.80 factors.

Similarly, the market capitalisation shed N6 billion to shut at N14.908 trillion.

The downturn was impacted by losses recorded in medium and enormous capitalised shares, amongst that are; Forte Oil, Dangote Cement, Nigerian Breweries, Nascon and Allied Industries and Guinness Nigeria.

Analysts at Cordros Capital stated: “Despite the loss in yesterday’s session, we reiterate our bullish bias for equities in the medium to long term, as still-positive macro-economic fundamentals continue to make a case for positive returns.”

Further evaluation of yesterday’s transactions confirmed that Cutix recorded the very best worth acquire of eight.47 per cent, to shut at N3.20 per share. Livestock gained four.94 per cent to shut at 85 kobo, whereas Cement Company of Northern Nigeria appreciated by four.92 per cent to shut at N23.45 per share.

Wema Bank appreciated by four.71 per cent to shut at 89 kobo, whereas Red Star Express went up by four.55 per cent to shut at N5.75 per share.

On the opposite hand, Forte Oil led the losers’ chart by 5 per cent, to shut at N40.85 per share. CI Leasing shed four.76 per cent to shut at N1.80, whereas Courtville Business Solution depreciated by four.55 per cent to shut at 21 kobo per share.

Unity Bank declined by four.39 per cent to shut at N1.09, whereas Nascon Allied Industries down by four.21 per cent to shut at N20.50 per share.

However, the entire quantity traded appreciated by 154.6 per cent to 563.6 million shares, value N5.8 billion, and traded in four,217 offers. Transactions within the shares of FCMB Groups topped the exercise chart with 297.52 million shares valued at N745.22 million. Guaranty Trust Bank adopted with 59.48 million shares value N2.71 billion, whereas Zenith Bank traded 32.54 million shares valued at N893.48 million.

Sovereign Trust Insurance traded 18.68 million shares valued at N4.1 million, whereas Fidelity Bank transacted 17.9 million shares value N44.48 million.

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