NSE index falls as 28 stocks record losses

Stocks witnessed a weak bargain on Wednesday with the Nigerian Stock Exchange All-Share Index shedding 78.96 basis points or 0.23 per cent to close at 34,050.92 basis points. This followed the share price depreciation suffered by 28 stocks.

The market capitalisation of the listed equities also closed lower, falling by N27bn or 0.23 per cent from N11.599tn to N11.572tn.

It was a mixed performance for the stocks with three of the eight other market indices rising, four declining and one – the NSE Alternative Securities Market Index – closing flat after 287.907 million shares worth N3.176bn were traded in 4,302 deals.

Unity Bank Plc led the losers, shedding 9.51 per cent or 43 kobo to close at N4.09 per share.

It was followed by AIICO Insurance, which declined by 7.89 per cent or nine kobo to close at N1.05 per share.

Cadbury Nigeria Plc and PZ Cussons Nigeria Plc fell by five per cent each to close at N39.90 and N28.50 per share in that order.

UAC Property Development Company Plc was also down by five per cent or 59 kobo to close at N11.21 per share, while Oando Plc dipped by 4.97 per cent or 94 kobo to close at N17.96 per share.

It was not all losses, however, as 22 equities recorded share price appreciation.

Africa Prudential Registrars Plc topped the gainers, rising by five per cent or 14 kobo to close at N2.94 per share.

GlaxoSmithKline Consumer Plc also edged up by five per cent or N2.67 to close at N56.12 per share, while UAC of Nigeria Plc gained 4.75 per cent or N1.90 to close at N41.90 per share.

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