The benchmark indices of equity trading on the floor of Nigerian Stock Exchange (NSE) Thursday continued to maintain negative stance as investors embarked on massive sell-off, trimming down investors’ net-worth by N31 billion.
It was noted that the nation’s bourse commenced trading for the week on a somewhat sluggish note and given the outlook so far, the stock market is expected to close the week on negative mode.
The loss covers Monday, Wednesday and Thursday trading figures. The stock market which kicked the trading week with N15.40 trillion closed on Thursday at N15.9 trillion, while the All-Share Index lost 871.13 absolute points to close at 42,185.38 points.
The All-Share Index tracks the general market movement of all listed equities on the Exchange, including those listed on the Alternative Securities Market (ASeM), regardless of capitalization at the close of trading for each day.
Further checks on trading statistics also showed lackluster with 39 losers’ against 15 others that recorded gains.
However, top five losers’ were led by Seplat Petroleum Plc with N17.5 per share. The oil and gas giant emerged the biggest losers’ at the end of trading, shedding 2.23 percent. From the opening value of N785, it closed lower at N17.5 per share.
It was trailed by Mobil Oil Nigeria Plc with a loss of N7.4 or 4.03 percent to close at N176.3 from N183.7 per share; Dangote Cement Plc dipped N6.2 or 2.31 percent to close at N262.6 as against N268.8 per share.
Unilever Nigeria Plc dipped N4.9 or 8.48 percent to close at N52.9 from N57.8, while Conoil came fifth on the decliners’ line with N1.75 or 4.97 percent to close at N33.45 from N35.2 per share.
Even though the market was occasioned with bearish outlook, Nestle Nigeria Plc led the gainers table having recorded loss for two days; it added N15.00 or 1.09 percent. The food and beverages giant closed at N1, 395.00 from N1,380.00 per share.
Nigerian Breweries Plc followed with N2.1 or 1.60 percent to close at N133.00 from N130.9, Dangote Sugar added eight kobo or 3.77 percent to close at N22.00 from N21.2 per share, while Stanbic IBTC was up 65 kobo or 1.32 percent to close at N49.15 from N49.8 per share
NPF Microfinance Bank Plc added 18 kobo or 9.78 percent to close at N2.02 from N1.84 per share.
In all, investors bought and sold 404.65 million ordinary shares worth N6.30 billion exchanged in 5,403 deals.