Bears return as stock market loses N56bn

Trading activities at Nigerian Stock Exchange yesterday returned to bearish trend, dropping by N56 billion.

Specifically, market capitalisation of listed equities down by 0.47 per cent to N11.638 trillion from N11.694 trillion reported on Wednesday.

Also, the NSE All Share Index (ASI) declined to 31,212.79 points from 31360.28 points traded the previous day.

Investors traded a turnover of 177.63 million shares valued at N2.56 billion in 2,635 deals against 377.494 million shares worth N2.261 billion exchanged hands in 3273 deals.

A review of the investment indicated that Dangote Flour led gainers table, appreciating by N0.80 kobo to close at N10.30 kobo

Ikeja Hotel followed with a gain of N0.17kobo to close at N2.30 kobo, Sterling Bank added N0.14kobo to close at N2.50 kobo, NEM Insurance increased by N0.12 kobo to close at N2.50 kobo while United Bank for Africa gained N0.10kobo to close at N7.65 kobo.

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On the contrary, Nestle recorded the highest loss during the day, dropping by N4.90 kobo to close at N1,545.00, Dangote Cement trailed with a loss of N2.00 to close at N190.00, Transcorp  Hotel down by N0.55kobo to close at N5.40 kobo, Eterna fell by N0.40k to close at N4.40 kobo  and Guaranty Trust Bank N0.30  kobo to close at N35.40 kobo.

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