Wednesday, October 28, 2020
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Capital Market’s Bullish Trend Breaks, Sheds N46bn

By Mathew Dadiya, Abuja

The bullish trend of the Nigerian Stock Exchange, NSE market was cut as trading activities Thursday, closed in southward losing N46 billion as investors adjusted portfolio and positions for the third-quarter earnings.

Market capitalisation declined by N46 billion or 0.31 per cent to N14.920 trillion from N14.966 trillion reported the previous day.

The NSE All Share Index also fell by 88.13 basis points to 28546.22 points from 28634.35 points reported on Wednesday
The increase in the traded volume in the recent times according to operators indicates that institutional investors such as fund managers, pension fund administrators and others are stockpiling up their investment in equity market which is the only alternative that is attractive. The rise in volume was also due to the prevailing high dividend yields with many companies.

.meanwhile,Investors traded 569.376 million shares valued at N4.913 billion in 6101 deals against 832.879 million shares worth N9.539 billion exchanged hands the previous day in 9180 deals.

A review of the transactions during the week showed that Airtel Africa led gainers table during the day, gaining N10.00 to close at N410.20 kobo, Unilever Nigeria Plc followed with a gain of N1.20 kobo to close at N13.50 kobo, Guaranty Trust Bank gained N1.00 to close at N32.00, Zenith Bank added N0.55 kobo to close at N20.10 kobo, Ecobank Transnational Incorporated added N0.35 kobo to close at N4.45 kobo.

Dangote Cement topped losers chart, dropping by N7.50 kobo to close at N150.50 kobo, Nigerian Breweries trailed with a loss of N3.70 kobo to close at N48.60 kobo, Conoil fell by N0.85 kobo to close at N14.40 kobo, BUA Cement dipped by N0.35 kobo to close at N41.40 kobo, Ardova PLC sheds N0.35 kobo to close at N12.45 kobo.

The result indicated that Eterna PLC was the most active stock during the day, exchanging 112.889 million shares valued at N372.533 million, Zenith Bank followed with account of 74.231 million shares valued at N1.507 billion, Access Bank traded 57.062 million shares cost N449.161 million, FBNHoldings traded 44.401 million shares cost N280.996 million while Fidelity  Bank exchanged 31.835 million shares worth  N66.659 million .

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