NSE index sheds 0.39%

The equity market closed negative on Friday, halting a three-day rally, which lifted the Nigerian Stock Exchange’s All-share Index by 348.49 basis points.

The NSE ASI shed 0.39 per cent or 149.71 basis points on Friday to close at 37,461.94 points from Thursday’s close of 37,611.65.

Also, the market capitalisation of the listed equities fell by N48bn or 0.39 per cent to close at N11.969tn, down from N12.017tn recorded in the previous session.

The NSE-30 Index declined by 8.71 basis points or 0.49 per cent to close at 1,753.78 points, while the NSE Banking Index fell by 2.17 basis points or 0.53 per cent to close at 402.57.

The NSE Insurance Index recorded a depreciation of 0.58 basis points or 0.41 per cent to close at 138.13 points, from Thursday’s close of 138.71 points.

Similarly, The NSE Consumer Goods Index fell by 8.34 basis points or 0.77 per cent to close at 1,063.33 points, while the NSE Oil/Gas Index shed 1.06 per cent or 2.52 basis points to close at 233.83 points.

The banking sub-sector led on the activity chart, accounting for 54.43 per cent of the 228.985 million shares valued at N2.753bn exchanged in 4,630 deals for the day.

In the sector, 124.644 million shares worth N1.297bn were traded in 1,584 deals.

United Bank for Africa Plc, Guaranty Trust Bank Plc and Unity Bank Plc drove volume in the sector.

A total of 23 stocks recorded price appreciation, while 35 others recorded price depreciation.

Berger Paints Plc led on the gainers’ chart, rising by five per cent or 40 kobo to close at N8.40 per share.

CAP Plc and Okomu Oil Plc followed, rising by 4.52 per cent each to close at N48.99 and N45.99 per share, respectively.

Custodian and Allied Insurance Plc gained 4.19 per cent or seven kobo to close at N1.74 per cent per share, while Learn Africa Plc appreciated by 4.12 per cent or seven kobo to close at N1.77 per share.

International Energy Insurance Company Plc, on the other hand, topped the price losers’ chart, shedding eight per cent or six kobo to close at 69 kobo per share, followed by Paints and Coatings Manufacturers Nigeria Plc and Airline Services and Logistics Plc, which fell by 4.88 per cent and 4.79 per cent to close at N2.09 and N3.50 per share, respectively.

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