Wednesday, May 31, 2023

Market indices record 0.21% loss

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Jaafar Jaafar
Jaafar Jaafar
Jaafar Jaafar is a graduate of Mass Communication from Bayero University, Kano. He was a reporter at Daily Trust, an assistant editor at Premium Times and now the editor-in-chief of Daily Nigerian.
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The market indicators of the Nigerian Stock Exchange (NSE) on Thursday closed on a negative territory, dropping by 0.21 per cent due to sell pressure.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N19 billion or 0.21 per cent to close at N9.059 trillion compared with N9.078 trillion achieved on Wednesday.

Similarly, the NSE All-Share Index which opened at 26,385.80 lost 55.41 points or 0.21 per cent to close at 26,330.39.

Nestle, one of the most capitalised stock, led the losers’ chart, shedding N19 to close at N790 per share.

Forte Oil came second on the losers’ table with a loss of N7.50 to close at N73.99 and Guinness was down by N1.40 to close at N73.50 per share.

Total dropped N1 to close at N304, while Conoil depreciated by 98k to close at N36.50 per share.

On the other hand, Zenith Bank led the gainers’ table with a gain of 31k to close at N15.50 per share.

United Bank for Africa followed with a gain of 23k to close at N4.93, while Access Bank rose by 17k to close at N6.37 per share.

Capital Hotel increased by 16k to close at N3.47 and Oando appreciated by 9k to close at N47 per share.

NAN reports that volume of shares traded closed lower as investors bought and sold a total of 179.43 million shares worth N1.47 billion exchanged in 2,928 deals.

This was against a turnover of 197.45 million shares valued at N1.05 billion transacted in 3,410 deals on Wednesday.

United Bank for Africa was investors delight, exchanging 36.04 million shares worth N175.12 million.

FBN Holdings followed with a total of 29.43 million shares valued at N108.39 million and Access Bank traded 16.53 million shares worth N107.48 million.

Transcorp sold 13.85 million shares valued at N12.41 million, while United Capital traded 12.04 million shares worth N38.98 million.

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