Nigeria Equities Shed 0.06 Percent

Transactions on the Nigerian Stock Exchange on Thursday ended on a negative trend, reversing the three consecutive days upward growth of stocks.

The market indicators posted marginal loss, dropping by 0.06 per cent due to price loses achieved by some highly capitalised stocks.

The All-Share Index lost 16.26 points or 0.06 to close lower at 27,420.99 points compared with 27,437.25 posted on Wednesday.

Similarly, the market capitalisation which opened at N9.42 trillion shed N6 billion to close at N9.42 trillion.

Total followed with N2 to close at N249 per share, while Mobil Oil dipped N1.73 to close at N167.94 per share.

GT Bank dropped 30k to close at N24.70 and Cement Company of Northern Nigeria lost 20k to close at N5.81 per share.

On the other hand, Lafarge Africa topped the gainers’ table with a gain of 70k to close at N56 per share.

Zenith Bank followed with 30k to close at N15.30 and Stanbic IBTC appreciated by 15k to close at N14.1 per share.

Eterna Oil grew by 12k to close at N2.62 and Africa Prudential increased by 9k to close at N2.61 per share.

Further breakdown of market transactions indicated that United Bank for Africa was investors delight, exchanging 120.73 million shares worth N507.69 million.

It was trailed by Diamond Bank which accounted for 36.84 million shares valued at N39.96 million and GT Bank with 36.76 million shares sold at N917.31 million.

Access Bank came fourth with a total of 15.26 million shares valued at N81.71 million, while FBN Holdings traded 14.59 million shares worth N45.87 million.

The volume of shares traded closed higher by 5.31 per cent as investors bought and sold 313.28 million shares valued at N3.60 billion in 2,883 deals.

This was in contrast with 297.48 million shares worth N2.29 billion achieved in 3,438 deals on Wednesday.