Home Business Equities Market Reacts To Coronavirus News, Down By 0.62% On Friday

Equities Market Reacts To Coronavirus News, Down By 0.62% On Friday


The Nigerian Stock Exchange (NSE) equities market closed negative on Friday as NSE-All Share Index lost 0.62 per cent to close at 26,808.24 basis points following the reported Coronavirus news In Lagos on Thursday night.

Friday’s trade witness market breadth index was negative with 19 losers against 13 gainers.

Equities market performances on Friday was mainly due to the losses recorded in Flour Mill of Nigeria plc (-8.70 per cent), Chi Plc (-6.90 per cent), NPF Microfinance Bank plc (-6.25 per cent), Stanbic Holdings Plc(-6.23 per cent) and Oando plc (-5.66 per cent) which offset the gains recorded in Jaiz Bank plc (+9.43 per cent), Law & Union plc (+7.95 per cent), Nahco plc (+7.04 per cent), May Baker plc (+4.81 per cent) and AIICO Insurance plc(+3.66 per cent).

Sector performances were broadly negative today as Banking (-1.38 per cent), Consumer Goods (-0.89 per cent) and Oil & Gas (-0.56 per cent) closed in red. However, Industrial closed flat.

In terms of activity levels, total volume and total value rose by one per cent and 64 per cent, compared to Thursday as investors exchanged over 232million units of shares worth over N4.48billion. Zenith Bank (-0.26 per cent) was the most actively traded stock with about 45million units of shares worth about N868million.



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