Local Bourse Plunged by 2.21% on Sustained Sell-offs

The Local Bourse at the end of Friday’s trades, the NSE ASI dipped by 2.21 per cent  amid sustained bearish activity to close at 26,216.46 points even as the exchange recorded 41 losers as against 2 gainers.

Consequently, the year to date gain of the Local bourse closed on a negative note by -2.331 per cent .

In the OTC bonds market, the values of FGN bonds rose for most

maturities tracked amid buy pressure; however, FGN Eurobond prices moderated for most maturities tracked amid profit taking.

Presco recorded the highest loss to lead the losers’ table, dropping by N4.95 to close at N44.90 per share.

Nigerian Breweries trailed with N4.50 to close at N40.50, while Stanbic IBTC dipped N3.60 to close at N32.50 per share.

Guaranty Trust Bank declined by N2.60 to close at N23.80, while MTN Nigeria was down by N2.10 to close at N110 per share.

On the other hand, Flour Mills led the gainers’ table with N1 to close at N22 while Vitafoam improved by 24k to close at N4.32 per share.

Investors traded 416.30 million shares valued N6.19 billion in 5,220 deals.

This was in contrast with 231.53 million shares worth N4.48 billion transacted in 3,606 deals on Thursday.

Guaranty Trust Bank was the most active stock, trading 96.01 million shares valued N2.29 billion.

It was trailed by United Bank for Africa (UBA) with an account of 49.51 million shares worth N318.78 million, while Zenith Bank traded 45.56 million shares valued N827.88 million.

United Capital sold 32.94 million shares worth N105.15 million, while FBN Holdings exchanged 32.91 million shares valued N155.89 million.