Stock Market Down N164bn on Profit-taking in Guinness, Others – THISDAYLIVE

Trading activities in the stock market of the Nigerian Exchange Limited took a negative turn last week as the loss recorded on the second trading day proved sufficient in wiping off the cumulative gain when the market closed on Friday.

Elsewhere, the performances across sectors were broadly negative. The NGX Insurance index recorded a weekly loss of 2.2 per cent. NGX Consumer Goods index declined by 1.9 per cent, while NGX Oil and Gas , and NGX Industrial Goods indices depreciated by 0.7 per cent and 0.3 per cent respectively W-o-W. on the other hand, NGX Banking index gained 0.2 per cent.

On the other side, Prestige Assurance led the decliners table by 15.22 per cent to close at 39 kobo, per share. Learn Africa followed with a loss of 10.71 per cent to close at N1.50, while Guinness Nigeria declined by 9.95 per cent to close at N74.65, per share. The Financial Services Industry led the activity chart with 859.019 million shares valued at N6.691 billion traded in 8,157 deals; contributing 78 per cent and 57.12 per cent to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 96.989 million shares worth N109.622 million in 425 deals, while the Oil & Gas Industry traded a turnover of 40.897 million shares worth N367.117 million in 1,065 deals.

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