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NSE’s indices drop further by 0.13%
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Key indicators of the Nigerian Stock Exchange closed on Friday with a loss of 0.13 per cent, as turnover volume increased by 73.59 per cent.
Specifically, the All-Share Index, which opened at 38,697.17 inched lower by 48.69 points or 0.13 per cent to close at 38,648.48.
The market capitalisation also inched lower by N25 billion to close at N20.221 trillion from N20.246 trillion achieved on Thursday.
SFS Real Estate Investment Trust topped the losers’ chart in percentage terms, dropping 9.96 per cent to close at N62.40 per share.
Unity Bank trailed with a loss of 9.59 per cent to close at 66k, while Africa Insurance shed 9.09 per cent to close at 20k per share.
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NSE trading floor. PHOTO: FEMI ADEBESIN-KUTI
Expectations of improved corporate earnings, coupled with the outcome of the MPC meeting sustained positive sentiments on the equity sector of the Nigerian Stock Exchange (NSE) last week, as the market hit the N22 trillion mark, and the All-share index and market capitalisation appreciating by 3.442 per cent to close the week at 42,412.66 and N22.187 trillion, respectively.
Similarly, all other indices finished higher with the exception of NSE Oil/Gas ,which depreciated by 7.25 per cent while the NSE ASeM and NSE growth indices closed flat.
Analysts said the gradual release of corporate earnings spurred buying interests in dividend-paying stocks, which was further strengthened by the outcome of the MPC meeting.