Index sheds 0.3% in bearish trading

Sharp sell-offs from investors dragged the benchmark index of equities on the Nigerian Stock Exchange yesterday, as bears held sway.

Specifically, the All Share Index shed 0.30 per cent to close at 38,844.17 points, as against the rise of 0.02 per cent recorded the preceding day to close at 38,961.60 points.

Market capitalisation dropped N31bn to close at N12.430trn, in contrast to the increase of N68bn recorded the preceding day to close at N12.461trn.

On the sectorial indices, the NSE 30-Index lost 0.26 per cent to close at 1,792.58 points, while the Insurance Index fell 1.27 per cent to close at 145.35 points.

The Banking Index gained 0.23 per cent to close at 406.40 points, but he Consumer Goods Index declined 0.84 per cent to close at 1,083.87 points.

The Oil and Gas Index dipped 0.12 per cent to close at 303.54 points, while the Lotus Islamic Index was down 0.09 per cent to close at 2,742.28 points.

The Industrial Index shed 0.12 per cent to close at 2,393.27 points, while the Alternative Securities Market remained unchanged.

Union Dicon Salt Plc led the gainers’ table with 76 kobo or 10.11 per cent to close at N8.28 per share, while the International Breweries Plc added N1.20 or five per cent to close at N25.20 per share.

Air Service Plc rose 17 kobo or 4.94 per cent to close at N3.61 per share, while Unity Bank Plc appreciated two kobo or 3.92 per cent to close at 53 kobo per share.

International Energy Insurance Plc was up two kobo or 3.57 per cent to close at 58 kobo per share.

On the flip side, Transcorp Plc dropped 26 kobo or 6.55 per cent to close at N3.71 per share, while Jos Breweries Plc shed 23 kobo or 4.96 per cent to close at N4.41 per share.

Costain West Africa Plc depreciated five kobo or 4.85 per cent to close at 98 kobo per share, while RT Briscoe Plc fell six kobo or 4.65 per cent to close at N1.23 per share.

Wapic Insurance Plc lost four kobo or four per cent to close at 96 kobo per share.

A otal of 390.3 million shares valued at N2.93bn were traded in 5,012 deals.

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