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Market Indices, Volume Nosedive On NSE



Activities on the Nigerian Stock Exchange (NSE) opened for the week on Monday in red, with market indices losing 0.85 per cent and volume of shares dropping by 20.25 per cent.

The News Agency of Nigeria (NAN) reports that major blue chips recorded price depreciation, with Dangote Cement topping the losers’ chart with N8 to close at N270 per share.

Forte Oil came second with a loss of N2.40 to close at N46.05, while Julius Berger was down by N1.35 to close at N28.65 per share.

Lafarge Wapco declined by N1 to close at N53, while Cadbury decreased by 50k to close at N15.50 per share.

Consequently, the All-Share Index dipped 378.27 points or 0.85 per cent to close at 44,261.72 compared with 44,639.99 achieved on Friday.

Similarly, the market capitalisation which opened at N16.019 trillion shed N136 billion or 0.85 per cent to close at N15.883 trillion.

Conversely, Betaglass led the gainers’ table during the day, gaining N3.10 to close at N65.45 per share.

Zenith International Bank followed with a gain of 70k to close at N32.65, while PZ industries appreciated by 55k to close at N23.65 per share.

Nigerian Breweries added 50k to N145, while Dangote Sugar grew by 35k to close at N21 per share.

NAN reports that the volume of shares traded dipped by 20.25 per cent as investors bought and sold 426.87 million shares valued at N2.77 billion in 5,741 deals.

This was in contrast with a turnover of 535.26 million shares worth N3.61 billion traded in 6,054 deals.

The financial services sector remained investors delight with FCMB Group emerging the most active stock in volume terms with 101.49 million shares valued at N303.32 million.

Skye Bank followed with an account of 48.34 million shares worth N66.37 million, while Diamond Bank exchanged 31.54 million shares valued at N100.21 million.

Transcorp sold 27.73 million shares worth N63.54 million, while AIICO Insurance transacted 27.63 million shares valued at N24.31 million. (NAN)