NSE Index drops 0.20%, as blue-chip stocks post losses

NSE Index drops 0.20%, as blue-chip stocks post losses

Transactions at the Nigerian Stock Exchange, NSE, on Wednesday, December 3, closed negative as the second trading day of 2018 was characterized by heavy losses recorded by Mobil and Dangote Cement.

As such, the All-Share Index (ASI) slumped by 0.20 per cent or 77.51 basis points to settle at 38,187.28 basis points, bringing the year-to-date return to 0.15 percent. Likewise, the market capitalisation dropped by N27.6 billion to finish at N13.590 trillion.

However, market breadth ended positive with only 11 depreciating stocks paired with 37 appreciating equities.

Mobil led the laggards’ pack dropping N17.80k to settle at N176.80k, while Dangote Cement slumped by N7 to close at N223 per share. Presco depreciated by N2 to finish at N66.50k per share. Cadbury declined by 65k to end at N14.95k per share and Unilever went down by 35k to close the day at N39.86k per share.

On the flip side, Lafarge was the highest price gainer, growing by N2.21k to finish at N47.10k per share. Dangote Sugar trailed with N1.51k added to its share value to close at N21.87k per share, and Dangote Flour, which went up today by 60k to close at N12.75k per share.

NASCON soared by 58k to end at N19.80k per share, while Ecobank rose by 47k to settle at N16.74k per share.

Skye Bank was the toast investors, trading a total of 190 million shares worth N101.7 million. It was followed by Transcorp, which sold 93.4 million units valued at N144.6 million; and Diamond Bank, which transacted 79.4 million shares for N136.3 million.

FCMB exchanged 61.2 million shares worth N105.5 million, while Fidelity Bank sold 21.7 million shares for N60.6 million.

Despite of the plunge in market indices, the volume of shares traded closed positive by 137.21 per cent with a turnover of 589.58 million shares valued at N2.12 billion in 4,366 deals, in contrast with a total of 248.55 million shares worth N1.78 billion traded in 3,035 deals on Tuesday.