Sterling Bank drives turnover volume on NSE

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Sterling Bank lifted volume of shares traded on the Nigerian Stock Exchange  (NSE) on Thursday with 1.75 billion shares worth N3.84 billion achieved in bearish trading.

Newsmen newsmen report that the volume of shares traded closed higher with 2.22 billion shares worth N7.49 billion in 5,468 deals majorly due to Sterling Bank’s activity.

This was against 508.29 million shares valued at N4.57 billion exchanged in 6,155 deals on Wednesday.

Skye Bank followed with 111.24 million shares worth N113.66 million, while UBA exchanged 43 million shares valued at N531.37 million.

Jaiz Bank traded 32.61 million shares worth N33.74 million, while FCMB Group sold 32.51 million shares valued at N88.95 million.

The market indicators, however, sustained the negative trend for the fourth consecutive day with the All-Share Index losing 211.27 points or 0.49 per cent to close at 43,326.89 from the 43,538.16 recorded on Wednesday.

The market capitalisation, which opened at N15.623 trillion, shed N75 billion or 0.48 per cent to close at N15.548 trillion.

Newsmen report that some highly capitalised stocks depreciated with Nestle leading the losers’ chart with a loss of N72.20 to close at N1,372.80 per share.

Nigerian Breweries trailed with a loss of N4.60 to close at N137.40, while  Stanbic IBTC dropped 30k to close at N45.05  per share.

FCMB Group lost 20k to close at N12.55, while  Union Bank of Nigeria also  depreciated by 20k to close at N8. 25 per share.

Conversely, Forte Oil led the gainers’ table,  growing by N2.25 to close at N48.20 per share.

International Breweries followed with a gain of N1.50 to close at N59, while  Dangote Cement appreciated by N1 to N265 per share.

Flour Mills Nigeria added 80k to close at N33, while Cadbury grew by 65k to close at N15.50 per share.

NAN

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