Zig-Zag movement continues at Nigeria Stock Exchange as equities dips by N6bn

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Equity transactions on the floor of the Nigerian Stock Exchange (NSE) continued its zig-zag movement as the total value of equities dipped by N6 billion.

Consequently, the All-Share Index (ASI) went down by 0.04 per cent or 16.42 points to close at 40,772.26 points from 40.788.68 points recorded on Tuesday even as the market capitalization decreased by N6 billion from N14.733 trillion to N14.727 trillion.

Traded volume of stocks slumped to 230.17 million shares valued at N4.31 billion in 4,090 deals as against 1.60 billion shares worth N10.91 billion that changed hands in 4,729 deals in the previous trading session.

Similarly, the Oil and Gas index (-1.68 per cent), Industrial Goods (-1.00 per cent) and Consumer Goods (-0.40 per cent) closed in red, the Banking (+0.22 per cent) and Insurance (+0.06 per cent) closed positive as small cap stocks like Jaiz Bank, Oando Plc and 22 other stocks dominated the gainers’ chart.

Jaiz Bank gained 10 per cent to close at 0.88 kobo per share, Oando Plc was next with 9.70 per cent to close at N9.05, Skye Bank garnered 5.21 per cent to close at N1.01, Sterling Bank added 4.94 per cent to close at N1.07 while Fidson rose by 4.72 per cent to close at N5.77 per share.

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