Nigerian equity market further declines by 1.89%

Stockbrokers at the floor of the Nigerian Stock Market

The Nigerian equity market continued the downturn for the fourth consecutive days on Thursday, dipping 1.89 per cent as investors take profit ahead of the forthcoming general elections.
The NSE All-Share Index declined shed 588.14 basis points, representing 1.89 per cent to 30,557.20 points from 31,145.34 recorded the previous day.

Similarly, market capitalisation dropped by N220 billion, representing 1.89 per cent to N11.39 trillion, instead of N11.61 trillion on Wednesday.

Investors exchanged 349.31 million shares valued at N3.49 billion exchanged in 4,228 deals, compared to 249.54 million shares worth N3.12 billion traded in 4,018 deals on Wednesday.
MCNichols and Sunu Assurance emerged topmost gainers, having appreciated 10 per cent on Thursday, while Red Star Express led the losers’ chart, -9.09 per cent.

UBA traded 123.71 million shares worth N859.28 million to emerge the most active in terms of volume and value.
CAP followed with a gain of 25k to close at N31.75, while Learn Africa appreciated by 11k to close at N1.37 per share.
Union Bank of Nigeria added 5k to close at N6.25, while Sterling Bank increased by 4k to close at N2.39 per share.
On the other hand, Dangote Cement recorded the highest loss, dropping by N4 to close at N190 per share.
Nigerian Breweries trailed with a loss of N4 to close at N74, while Julius Berger dropped by N2 to close at N26 per share.
Stanbic IBTC depreciated by N1.80 to close at N45.20, while Unilever went down by N1.55 to close at N35 per share.
Transcorp followed with an account of 33.21 million shares valued at N41.52 million, while Custodian and investment traded 32.91 million shares worth N204.03 million.
Zenith Bank exchanged 27.59 million shares worth N633.29 million, while FBN Holdings traded 19.83 million shares valued at N145.79 million.