Nigerian stocks continued on a downward trajectory on Thursday as the benchmark index contracted 0.32 per cent or N71 billion after stocks cringed across sectors.
All but the insurance index dropped of the five sector indexes tracked by the bourse. Interest in Honeywell Flour continued to intensify following the announcement on Monday by rival Flour Mills to acquire a majority stake in the firm, with the stock recording the strongest price appreciation at 9.76 per cent.
The all-share index slipped 136.25 points to 43,108.77, while market capitalisation closed lower at N22.5 trillion.Honeywell led the gainers’ chart, appreciating by 9.76 per cent to close at N4.05. AIICO went up by 8.47 per cent to N0.64. Regal Insurance rose to N0.39, notching up 8.33 per cent in the process. Ikeja Hotel added 8 per cent to end trade at N1.35. UPL completed the top 5, climbing by 8 per cent to N2.70.MRS was the worst performing stock, declining by 9.87 per cent to close at N13.