Sell-off persists as stocks value dips N17bn

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Sell-off persists as stocks value dips N17bn
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Trading on The Nigerian Stock Exchange (NSE) Friday closed on downward mode as market capitalisation of listed equities dipped by N17 billion or 0.08 per cent to close at  N20.578 trillion from N20.595 trillion reported on Thursday.

The All-Share Index declined by 33.06 basis points or 0.08 per cent to 39,331.61 basis points from 39,364.67 basis points achieved on Thursday.  in contrast to 493.17 million shares valued at N4.72 billion exchanged in 5,486 deals on Thursday.

Mansard Insurance dominated trading activities, accounting for 282.32 million shares worth N282.24 million.

It was trailed by Zenith Bank with an exchange of 46.85 million shares valued at N1.18 billion, while FBN Holdings traded 26.50 million shares worth N185.95 million. United Bank for Africa sold 23.29 million shares valued at N184.59 million, while Guaranty Trust Bank sold 20.83 million shares worth N645.43 million.

Trans Express topped the losers’ chart in percentage terms, shedding 10 per cent to close at 81k per share.

Triple G trailed with a loss of 10 per cent to close at 72k, while Union Homes REITS dipped by 9.96 per to close at N36.6 per share. Cutix Plc fell by 9.95 per cent to close at N1.81, while Scoa dropped by 9.90 per cent to close at N2.64 per share.

On the other hand, Morrison led the gainers’ table in percentage terms, gaining 10 per cent to close at 66k per share.

Lafarge Wapco followed with a gain of 9.90 per cent to close at N22.20, while NEM Insurance gained 9.88 per cent to close at N1.89 per share. Skyway Aviation Handling added 9.54 per cent to close at N3.33, while Unity Bank improved by 8.96 per cent to close at 73k per share.

Investors spent N13.62 billion on 587.74 million shares in 4,895 deals.

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