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NSE index slides by 2.09%

By The Citizen
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The equities segment of the Nigerian Stock Exchange closed on a negative note on Thursday following a broad sell-off by investors.

The NSE All Share Index fell by 2.09 per cent or 717.03 basis points from 34,145.79 basis points to 33,428.76 basis points.

In the same vein, the market capitalisation of the listed equities was down by N237bn or 2.09 per cent to N11.076tn from N11.313tn Wednesday's close.

The NSE 30 Index, which tracks the performance of the 30 top quoted companies on the Exchange, shed 32.29 basis points or 2.09 per cent to close at 1,510.32 basis points.

With the exception of the NSE Alternative Securities Market Index, which was little-changed at 1,014.90, all other market indices declined.

For instance, the NSE Banking Index fell by 1.62 basis points or 0.46 per cent from 353.26 to 351.64 basis points.

Also, the NSE Insurance Index declined by 0.27 per cent to 143.72, the NSE Consumer Goods Index shed 27.26 basis points or 3.1 per cent to close at 850.77 basis points, while the NSE Oil and Gas Index dipped by 18.31 basis points or 4.47 per cent to close at 391.36 basis points.

The NSE Lotus Islamic Index was down by 74.64 basis points or 3.44 per cent to close at 2,093.17 basis points, while the NSE Industrial Index fell by 46.64 basis points or 2.29 per cent to 1,988.45 basis points.

The banking sub-sector led the activity chart, accounting for 57.7 per cent of total turnover volume.

In the sub-sector, investors exchanged 180.374 million shares worth N1.091bn in 1,300 deals.

Volume in the sub-sector was driven by trading in the shares of Sterling Bank Plc and Guaranty Trust Bank Plc.

Zenith Bank Plc, United Bank for Africa Plc, Diamond Bank Plc and Skye Bank Plc also recorded high volume turnover in the sub-sector.

In all, 312.451 million shares worth N4.120bn were traded in 4,421 deals with only 10 shares recording price appreciation as against 42 that recorded price depreciation.

Wapic Insurance Plc led the gainers, rising by 4.62 per cent to close at 68 per cent per share. Anino Plc followed with a 4.17 per cent, which helped it to close at 25 kobo per share.