MARKET UPDATE: DIVE CONTINUES AT NSE Feb 6.

At the Nigerian stock market today Monday February 6, the dive all through last week continued with All shares index going down 0.83% to 25,587.09 as premium index dropped by 1.67% ( no thanks to Dangote cement's 1.78% decrease) with some help from banking index (down 0.96%), Insurance index down by 0.95%  and industrial index which eased 0.85%.

The losers were not only more (28 as against 9 gainers), they recorded higher % changes too.

Top drop was UAC Property's 9.27% at N2.25 per share compared to top gain of only 5% by Unity bank at N0.8 per share.

The market was more active though both in terms of deals and volume. Total number of deals recorded was 2706, up 15.1% on Friday close while the day's total volume was 152,396,071 units representing 5.37% increase on previous trading day.

Today, financial services related equities climbed back to pace setting form in both volume and deals. Day high deal was in Zenith International (242 deals for 12,178,889 units); with Gurantee Trust bank running with 203 deals for 4,973,108 units while FBN Holdings followed with 203 deals for day high volume of 25,253,363 shares.

The pace set by FBN Holdings in volume was followed by 78 deals for 13,550,950 units and FCMB's 71 deals for 13, 259,058 shares.

Deals took place too in some rather rare equities like one deal in Cutix plc for 60,000 units; 16 deals in Tranex plc for 465,000 shares and 2 deals in Learn Africa plc for 90,000 units.

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