Nigeria equities index dip 0.11%, as Forte Oil, Oando, Nascon lead losers

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Equities trading on the Nigerian Stock Exchange (NSE) ended a seven session positive run today, with a 0.11 per cent decline of lead market indices.

The Nigerian Stock Exchange All-Share Index (NSEASI) specifically fell by 41.17 points to close at 38,102.85 basis points while the market capitalization dropped N14.2 billion to close at N13.133 trillion.

Forte Oil Plc led the day’s 27 losers with a loss of 9.71 percent to close at N53.76 per share. Oando dropped 5 per cent to close at N7.22 per share while NASCON depreciated 4.99 per cent to close at N12.57 per share. Morison Industries and Dangote Sugar declined 4.85 per cent and 4.84 per cent to close at 98 kobo and N13.56 per share respectively.

On the flip side, Unilever led the day’s 20 gainers with an appreciation of 5 percent to close at N43.05 per share. BOC Gases came second on the gainers list after adding 4.94 per cent to close at N3.61 per share and Conoil gained 4.38 per cent to close at N34.30 per share. Guinness and Wema Bank also added 4 per cent and 3.92 per cent respectively to close at N91 and 53 kobo per share.

Access Bank topped activity chart as investors traded a total of 69.8 million units valued at N712.4 million. Zenith Bank sold 58.8 million shares worth N1.4 billion, while FCMB exchanged 47.2 million units valued at N57.3 million.

Diamond Bank transacted 33.2 million shares at N43.2 million, and Guaranty Trust Bank exchanged 26.8 million shares worth N1.1 billion.

Investors in 4,055 deals moved a total of 362.7 million units of shares valued at N5.597 billion, compared to 328.7 million shares worth N6.1billion traded in 4,983 deals on Wednesday.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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