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  • Business - Market Data
  • Updated: Oct 09, 2020

NSE Stocks Dip Again As Nigeria Edge Closer To Recession

NSE Stocks Dip Again As Nigeria Edge Closer To Recession

The latest Nigerian stock market today brought news of the exchange closing at 5,759 deals on Friday, October 9, 2020, lower than the 6,101 deals it closed with on Thursday, October 8, 2020, while the volume reached 384.1 million units at the close of the market on Friday, lower than the 569,3 million units it closed with on Thursday. This is happening at a period Nigeria's economy is projected to contract and slide into recession.

The value of trades recorded on Friday was NGN3.999 billion, lower than the NGN4.913 billion of Thursday.

Meanwhile, on Friday, the All-Share Index reached 28,415.31 index points, higher than the 28,546.22 index points it ended trading with on Thursday. The stock market also ended with NGN14,852 trillion equity capitalisation on Friday, lower than the NGN14,920 trillion of Thursday.

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Top Five Gainers

Total led the top gainers' chart after its stock price gained NGN5.2 to close trading at NGN102 per share after opening today's trading with NGN96.8 kobo per share, this is according to the Nigerian Stock Exchange (NSE) market data seen by AllNews.

Eterna was second on the table, as its stock price gained NGN0.33 kobo to close the market with NGN3.63 kobo per share, having started trading today with NGN3.3 kobo per share.

International Breweries was the third top gainer as its stock price closed the market with NGN0.14 kobo gain to move from the opening price of NGN4.58 kobo per share to NGN4.72 kobo per share. Custodian follows, closing the market with a gain of NGN0.1 kobo to end trading with NGN5.25 kobo per share from the opening share price of NGN5.15 kobo per share. BUA Cement was last on the top five gainers' table after its share price rose from NGN41.4 kobo per share to close trading at NGN41.5 kobo per share, after gaining NGN0.1 kobo.

Top Five Losers

On the top of the losers list is GTBank, which had begun trading earlier today at NGN32 per share, only to drop in price by NGN-1.6 kobo to close at NGN30.4 kobo per share at the end of trading today.

Dangote Cement was second on the chart after closing at NGN150 per share from its opening trade price of NGN150.5 kobo per share; this represents a drop of NGN-0.5 kobo. PZ Cussons also recorded a drop in its share price as it declined by NGN-0.4 kobo to close trading at NGN4.1 kobo per share, below the NGN4.5 kobo per share it opened with.

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United Capital also recorded a drop in its share price as it declined by NGN-0.17 kobo to close trading at NGN3.54 kobo per share, below the NGN3.71 kobo per share it opened with. Ecobank completed the top five losers chart after it closed trading with NGN4.3 kobo per share, declining by NGN-0.15 kobo from the NGN4.45 kobo per share it opened trading with.

Top Five Trades

AllNews learnt that the top trades in the stock market for today were Caverton, which traded a volume of over 52.1 million units worth NGN93.78 million. Zenith Bank was the second most traded stock today with over 49.9 million units worth over NGN1 billion. First Bank was next on the list, trading 49.3 million units worth NGN306.6 million.

GTBank was the fourth on the most traded stock list, closing the market with over 32.6 million units traded at a cost of over NGN1.02 billion, while Access Bank completed the top five list with over 27.1 million units traded today, worth NGN215.18 million.

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