Stock Price Closes On Negative Note

Transactions ended last negative note last Thursday as investors reduced their stakes at the Nigerian Stock Exchange (NSE).

The equity shares listed on the NSE, which dropped by 0.77 per cent, was also due to price losses by some highly capitalised companies.

The All-Share Index, which opened at 23,227.30, depreciated by 179.09 basis points to close at 23,098.21.

Also, the market capitalisation lost N57 billion or 0.77 per cent to close at N7.37 trillion as against N7.43 trillion recorded last Wednesday.

New Goldled the gainers’ chart with N22 to close at N2,480 per unit, Nestle followed with N5 to close at N505 per share, while Okomu Oil grew by N1.38 to close at N29.90 per share.

Con Oil appreciated by N1.13 to close at N23.76, while Nigerian Breweries rose by 70k to close at N116.50 per share.

On the other hand, Mobil led the losers’ chart dropping with N6 to close at N125 per share followed by Flour Mill and Dangote Cement which lost N2.50 each to close at N54.50 and N113.50 per share respectively.

UAC-Propertyfollowed with loss of 49k to close at N9.36, while FBN dropped by 38k to close at N11.79 per share.

Our correspondent reports that investors last Thursday exchanged a total of 411.97 million shares worth N3.2 billion traded in 4,696 deals as against 259.59 million shares valued N2.2 billion traded in 4,184 deals the previous day.