NSE: Market indices drop by 0.52% on low 6 months earnings

The market indices of the Nigerian Stock Exchange (NSE) lost 0.52 per cent on Friday due to low earnings declared by some quoted companies for six months ended June 30 and political uncertainties.

The All-Share Index on Friday dipped 189.24 points or 0.52 per cent to close at 36,499.67 against 36,688.91 recorded on Thursday.

Similarly, the market capitalisation which opened at N13. 311 trillion shed N69 billion or 0.52 per cent to close at N13.322 trillion.

A breakdown of the price movement table indicates that Okomu Oil topped the losers’ chart, dropping by N5 to close at N76 per share.

International Breweries trailed with a loss of N2.90 to close at N30.50, while Forte Oil was down by N1.10 to close at N23.40 per share.

Dangote Cement depreciated by N1 to close at N229, while Cadbury dropped by 95k to close at N9.75 per share.

On the other hand, Beta Glass led the gainers’ table, gaining N7.80 to close at N85.80 per share.

Seplat followed with a gain of N6 to close at N710, while Nigerian Breweries gained N3 to close at N103 per share.

Redstar Express appreciated by 30k to close at N5.75, while Zenith International Bank garnered 20k to close at N23.85 per share.

The volume of shares traded dropped by 16.87 per cent, while value increased by 20.68 per cent.

Specifically, investors staked N4. 26 billion on 266.40 million shares traded in 3,242 deals.

This was against a turnover of 320.45 million shares valued at N3.53 billion achieved in 3, 293 on Thursday.

NAHCO was the most active stock during the day, trading 59.60 million shares worth N235.41 million.

United Bank for Africa came second with an account of 29.37 million shares valued at N282.92 million, while Diamond Bank traded 20.22 million shares worth N24.71 million.

FBN Holdings sold 17.29 million shares valued at N172.93 million, while Niger Insurance exchanged 15.38 million shares worth N4.61 million.