Nigerian Stock Exchange closes on downward trend

By Salamatu Ejembi, Lagos.

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Trading Floor of the Nigerian Stock Exchange

Trading on the floor of the Nigerian Stock Exchange (NSE) has continued today on a downward trend for the second consecutive day since it had its major rebound yet for this week, which saw the NSE All Share Index appreciate by 1.21 percent on Tuesday.

Consequently, at the close of trading activities on Thursday, the NSE market Capitalization closed at 13,641 trillion Naira as against Wednesday’s close of 13,689 trillion Naira, falling by 0.35 percent or 48 billion Naira.

Likewise, the NSE All Share Index fell by 0.35 percent or 98.13 basis points to close on Thursday at 27,990.61 basis points as against Wednesday’s close of 28,088.74 basis points.

To further reflect Thursday’s fall, the number of deals decreased from Wednesday’s 3,253.00 deals to 3,099.00 on Thursday.

Also, Investors traded 1.6 million shares worth 2.5 billion Naira on Wednesday but traded 3.4 million units of shares worth 1.9 billion Naira.

The number of gainers and losers remained unchanged as 15 stocks gained, 16 fell with all others retaining their prices per share.

However, the percentage with which the gainers appreciated, declined with the top gainer, FCMB Holdings having a percentage gain of 8.81 percent or 0.14k to close transactions at N1.73k per share as against Wednesday’s price of N1.59k per share.

Next is CHAMS which gained 8.00 percent or 0.02k to close at 0.27k per share compared to previous closing price of 0.25k per share on Wednesday.

Then FLOURMILL gained 6.07 percent or 0.85k to close at N14.85K per share compared to N14.00 per share on Wednesday.

On the losers’ table however, WAPIC fell 10.00 percent or 0.04K, attaining the top loser for Thursday’s trading after opening at 0.40K per share and closing at 0.36K per share.

Following right after is GSPECPLC with a 9.57 percent or 0.55K fall to close at N5.20K per share after opening at N5.75K per share.

While MORISON occupied the third position with a 9.09 percent or 0.05K decline to close at 0.50K per share after opening at 0.55K per share.

Amaka E. Nliam