Stock Market Extends Losing Streak to Four Days

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  • Stock Market Extends Losing Streak to Four Days

The equities market of the Nigerian Stock Exchange extended its decline on Thursday, as 26 firms recorded price depreciation.

The NSE market capitalisation fell to N14.820tn from N14.880tn on Wednesday. It rose to N14.930tn on Friday, last week, from N14.890tn the previous day.

The NSE All-Share Index dropped by 0.40 per cent to close at 40,914.94 basis points from 41,080.12bps on Wednesday and 41,218.72 bps on Friday.

Niger Insurance Company Plc led the losers’ table on Thursday, as its share price dropped by 7.41 per cent to close at N0.25. It was followed by Fidson Healthcare Plc, and May & Baker Nigeria Limited, which shed five per cent and 4.93 per cent to close at N5.13 and N2.70 per share, respectively.

Courtville Business Solutions Plc eased by 4.76 per cent to close at N0.20 per share; Sovereign Trust Insurance Plc dropped by 4.76 per cent to N0.20 per share, and Oando Plc lost 4.68 per cent to close at N8.15 per share.

Other losers were Wema Bank Plc, Japaul Oil & Maritime Service Plc, Dangote Flour Mills Plc, Transnational Corporation of Nigeria Plc, Guaranty Trust Bank Plc, Seplat Petroleum Development Company Plc and Forte Oil Plc.

Twenty-two stocks recorded price appreciation on Thursday, with Cement Company of Northern Nigeria Plc, Veritas Kapital Assurance Plc, Lasaco Assurance Plc, Okomu Oil Palm Plc and MRS Oil Nigeria Plc leading the pack.

CCNN appreciated by 9.96 per cent to close at N26.05 per share, while Veritas Kapital Assurance rose by 5.41 per cent to N0.39 per share.

The share price of Lasaco Assurance was up by 5.13 per cent to N0.41; Okomu Oil Palm gained five per cent to close at N85.05 per share, while MRS appreciated by 4.94 per cent to N29.75 per share.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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