October 20, 2018

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Stock Market Declines Further By N10 Billion

Stock Market Declines Further By N10 Billion

The Nigerian Stock Exchange witnessed another drop in shares yesterday after trading activities as bears sustained their grip following sell-off that pervaded the stock market.

Trading activities on the floor of the Nigerian Stock Exchange yesterday witnessed another drop in share prices as bears sustained their grip following sell-off that pervaded the stock market.

The All-Share Index dipped 27.26 basis points or 0.08 per cent to close at 32,417.70 index points as against 32,444.96 recorded the previous day while market capitalisation of equities depreciated by N10 billion from N11.844 trillion to N11.834trillion.

Meanwhile, a turnover of 349.5 million shares exchanged in 2,832 deals was recorded in the day’s trading. Other financial services sub-sector was the most active (measured by turnover volume); with 258.6 million shares exchanged by investors in 221 deals.

The number of gainers at the close of trading session was 20 while decliners closed at 21. Further analysis of the day’s trading showed that Continental Reinsurance Plc topped the gainers’ table with 10 per cent to close at 22 kobo per share while Cadbury Nigeria Plc followed with 6.74 per cent to close at N10.30 per share while CAP Plc trailed with a gain of 5.45 per cent to close at N30.00 per share.

Union Dicon Plc led the losers’ chart with a drop of 9.68 per cent to close at 28 kobo per share. First Aluminum Plc and RT Briscoe Nigeria Plc was next with a loss of 9.58 per cent each to close at 38 kobo per share apiece while NNFM Plc dropped by 9.23 per cent to close at N5.90 per share

 

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