Market Dips by 0.49%, Oceanic Delisted, UBN placed on Technical Suspension
The Nigerian Bourse dipped for the second consecutive day in trading shedding 47 basis points today and bringing the All Share Index to close at 20012.07 after the days trading.
First bank and Sterling Bank were the only banks to record a gain in the banking sector, with other banks suffering losses.
The volume of shares traded today was 197 million, down 45% from yesterday. Similarly the value of shares traded fell 17% to N 1.85 Billion.
In the breweries sector, institutional purchases of Nigerian Breweries pushed the price of the stock up by 3.71%, whilst Guinness lost a full 5% as supply far outweighed demand.
Union Bank of Nigeria had their shares placed on technical suspension whilst Oceanic Bank has had their shares delisted from the exchange.
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