Exchange Ends On Bearish Note

Nigerian Stock Exchange (NSE) ended last week’s transactions on the floor of NSE on a bearish note as market indicators of all-shares second her securities depreciated.

All-share index, market capitalisation, volume and value of listed equities all slided down from Thursday trading at NSE.

Specifically, market closed at 25,367.83 points, shedding 523.30 points from 25,891.13 points traded on Thursday.

Also, market capitalisation depreciated by 2 per cent or N167.1 billion from N8.3 trillion traded on the floor on Thursday, to close lower at N8.1 trillion.

Investors traded a total of 542,982,730 shares worth N4.8 billion in 6,134 deals, compared to 610,920,738 shares, valued at N5.9 billion which exchanged hands in 5,882 deals on Thursday.

The volume of listed equities declined by 11.1 per cent or 67,938,008 shares from 610,920,738 shares traded Thursday to close lower at 542,982,730 shares.

Also, share value dropped by 20.3 per cent or N1.2 billion from N5.9 billion traded Thurday to close lower at N4.8 billion.

Only 34 companies made gains in their transactions, compared to 49 companies that gained on Thursday.

However, 31 companies lost in their trading in contrast to 24 companies that lost on Thursday.

On Friday CAP made N1.59 gain to lead the gainer chart while Dangcem lost N6.65 to lead the losers chart.

Meanwhile, total transactions at NSE were boost by the activities of the banking sub-sector which traded 400,694,140 shares worth N3.2 billion in 3,680 deals compared to all-shares total trading of 542,982,730 shares valued at N4.8 billion in 6,134 deals.

The sub-sector contributed 73.8 and 66.7 per cent of the total volume and value of traded equities respectively.