NSE: Trading maintains bearish trend, indices down by 0.19%
Business, Economy
The bears maintained dominance on the Nigerian Stock Exchange (NSE) for the fifth consecutive day with the market indicators dropping by 0.19 per cent.
The News Agency of Nigeria (NAN) reports that the All-Share Index on Friday lost 49.97 points or 0.19 per cent to close at 26,533.78 against 26,583.75 on Thursday.
Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd attributed the development to investors apathy due to weakening economic fundamentals.
Omordion said that fund managers were selling down their position due to weaken economic fundamentals and divergence in monetary and fiscal policy formulation.
An analysis of the price movement table shows that Nigerian Breweries recorded the highest loss, declining by N2 to close at N46 per share.
Oando was down by 3k to close at N3.57 per share.
Conversely, FBN Holdings led gainers’ table with 10k to close at N5.40 per share,
AIICO Insurance followed with a gain of 5k to close at 69, while Guaranty Trust Bank Plc garnered 5k to close at N26.80 per share.
Also, the volume of shares traded declined by 67.69 per cent with an exchange of 117.384 million shares valued at N1.50 billion in 2122 deals.
This was in contrast with a turnover of 363.26 million shares worth N19.02 billion transacted in 2,650 deals on Thursday.
FCMB Group recorded the highest volume of activities, exchanging 24.01 million shares worth N38.42 million.
GT Bank accounted for 12.73 million shares worth N341.63 million, while Zenith Bank traded 7.57 million shares valued at N136.15 million.(NAN)
-Oct 11, 2019 @17:23 GMT |
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