Trading reverses Bull trend as NSE Index down by 0.52%

Transactions on the floor of the Nigerian Stock Exchange, NSE, at the weekend, reversed gains from previous sessions as lead indices dropped 0.52 percent.

As such, the All Share Index closed the day at 25,802.54 points, following a decline of 133.7 points from previous session’s 25,936.24 points.

Similarly, Market capitalization depreciated by N46 billion to N8.892 trillion from N8.938 trillion, bringing the Year-to Date return to -4 percent.

Market breadth turned red with 8 gainers paired against 22 losers. Guinness led the advancers’ pack with 4.67 percent to close at N66.50/

Nigeria Police Force Microfinance Bank followed with a growth of 4.63 percent to close at N1.13 per share while Sterling Bank added 4.17 percent to close at 75 kobo per share. ETI increased 1.48 percent to close at N10.30 and United Capital gained 1.43 percent to close at N3.55.

Axamansard led the days decliners with a decline of 5.00 percent to close at N1.52, UAC-Prop was next with a depreciation of 4.98 percent to close at N2.48, UACN lost 4.94 percent to close at N15.20, Custodian Alliance Insurance shed 4.86 percent to close at N3.33 and Unity Bank depreciated 4.76 percent to close at 80 kobo per share.

Most actively traded stock for the day was FBN Holdings that traded 34.3 million units of shares, worth N120.2 million.

Standard Trust Alliance (STACO) was next with 20 million units valued at N10 million and Guaranty Trust Bank was third with 18.2 million units of shares valued at N423.2 million.

Diamond Bank was the fourth most traded stock with 13.9 million units valued at N12.6 million while Fidelity Bank emerged fifth on the day’s top traded list with 9.01 million units of shares at N8.02 million.

At the end of trading, stakeholders moved 144.6 million in 2,350 deals lower than 354.5 million shares moved previously in 2,350 deals.

Value of equities traded for the day dropped to N1.2 billion from N1.7 billion which was recorded previously.