Equities drop 0.2% in bearish trading

The benchmark index of equities closed on bearish note on the Nigerian Stock Exchange yesterday, as investors continued to offload their holdings.

The All Share Index lost 0.21 per cent to close at 38,928.65 points, as against the marginal gain of 0.09 per cent recorded the preceding day to close at 38,928.65 points.

Market capitalization shed N76bn to close at N12.451trn, in contrast to the gain of N7bn recorded the preceding day to close at N12.477trn.

All the sectorial indices dropped substantial value except the Consumer Goods Index which appreciated 0.59 per cent to close at 38,928.65 points.

The NSE 30-Index fell 0.07 per cent to close at 1,802.17 points, while the Banking Index depreciated 0.69 per cent to close at 409.10 points.

The Insurance Index dipped 0.22 per cent to close at 145.54 points, while the Oil and Gas Index dipped 1.60 per cent to close at 291.65 points.

The Lotus Islamic Index depreciated 0.32 per cent to close at 2,776.68 points, while the Industrial Index was down 0.03 per cent to close at 2,275.64 points.

The Alternative Securities Market lost 0.20 per cent to close at 959.88 points.

Costain Plc led the gainers’ table with eight kobo or 9.88 per cent to close at 89 kobo per share, followed by Jos Breweries Plc with 35 kobo or 9.80 per cent to close at N3.92 per share.

Cadbury Nigeria Plc rose N3.00 or 5.01 per cent to close at N62.85 per share, while DN Meyer Plc increased seven kobo or five per cent to close at N1.47 per share.

Neimeth Plc gained five kobo or 4.63 per cent to close at N1.13 per share.

Conversely, Transcorp Plc lost 41 kobo or 9.45 per cent to close at N3.93 per share, while Forte Oil Plc shed N5.72 or five per cent to close at N108.73 per share.

Livestock Plc fell 23 kobo or 4.96 per cent to close at N4.41 per share, while NEM Insurance Plc dropped three kobo or 4.84 per cent to close at 59 kobo per share.

Red Star Express Plc was down 21 kobo or 4.76 per cent to close at N4.20 per share.

A total of 252.7 million shares valued at N2.58bn were exchanged in 4,717 deals.

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