The equities market on the Nigerian Stock Exchange (NSE) closed with a bearish performance for the 10th consecutive trading session on Friday amid massive sell-offs and profit taking in stocks.
The selling pressure led investors leaving the stock market with a whooping N802 billion loss at the end of the market’s four day-trading sessions for the week.
In specific terms, the All Share Index (ASI) lost 386,663.71 absolute points to close the week’s trading at 36,816.29 from 39,028.51 points it commenced trading on Monday.
The Federal Government declared last Tuesday Public Holiday in commemoration of 19 years of civil rule (Democracy Day).
At the close of trading on Friday, Nestle led the pack of losers. The stock dipped N42.5 or 2.89 percent to close at N1,430 per share.
It was trailed by Dangote Cement Plc with N17 loss or 7.08 percent to close at N223 per share, Total dipped N10.3 or 4.86 percent to close at N201.7 per share. Guinness and Nigerian Breweries shed N5 and N4.9 to close at N95 and N103 respectively.
On the other side, Cement Company of Northern Nigeria (CCNN) led on the gainers table with a total value addition of N1.3 or 4.88 percent to close at N27.95 per share.
Access Bank trailed with 55 kobo or 5.29 percent to close at N10.95 per share, Eterna Oil recorded three kobo value addition to close trading for the day at N6.33 per share.
United Bank for Africa (UBA) was up two kobo or 1.85 percent to close at N11 per share and Fidelity bank added nine kobo or nine percent to close at N1.09 per share.
In all, investors spent N7.354 billion on 516.83 million shares in 5,031 deals.