Nigerian Stock indices end negative

Trading activities on the Nigerian Stock Exchange (NSE) ended on a negative note Tuesday after the Easter holidays as the market indices dropped by 0.45 per cent. The All-Share Index dropped by 95.6 points to close at 20, 846.32 against 20, 941.92 recorded on Thursday.

Also, the market capitalisation, which opened at N6.641 trillion, lost N30 billion or 0.45 per cent to close at N6.611 trillion due to major price losses by blue chip equities. Flourmills led the price losers’ chart with a loss of N2.90 to close at N55.10 per share. Okomu Oil followed with a loss of N1.67 to close at N31.83, while Nestle dropped by N1 to close at N417.50 per share. Dangote Cement depreciated by 50k to close at N116, while Ashaka Cement dipped by 49k to close N9.58 per share.

On the other hand, Presco led the price gainers’ chart, gaining 48k to close at N10.59 per share. GlaxoSmithKline trailed with 28k to close at N19.25, while NAHCO rose by 16k to close at N8.05 per share. UBN appreciated by 12k to close at N2.57, while ETI grew by 10k to close at N11.98 per share.

The banking sub-sector remained the toast of investors with N133.14 million share valued at N1.26 billion traded in 2,047 deals.

GTB drove activity in the sub-sector, accounting for 32.46 million shares worth N472.97 million exchanged in 503 deals.

Zenith followed with 29.23 million shares valued at N378.58 million traded in 263 deals.

In all, investors traded 216.71 million shares worth N2.13 billion in 3,560 deals on Tuesday.

This was against the 433.64 million shares valued at N2.04 billion exchanged in 3,631 deals on Thursday, a decrease of 50 per cent