NSE Market Indices Drop 0.20% In A Bearish Trading

Transactions on the Nigerian Stock Exchange (NSE) on Wednesday closed on negative trend with the market indices dropping by 0.20 per cent due to price losses.


The News Agency of Nigeria (NAN) reports that the All-Share Index decreased by 60.35 basis points to close lower at 29,759.04 against 29,819.39 achieved on Tuesday following price depreciation.


Also, the market capitalisation lost N20 billion or 0.20 per cent to close at N9.912 trillion compared with N9.932 trillion posted on Tuesday.


An analysis of the price movement chart showed that Seplat led the losers’ table, dropping by N4.94 to close at N300.06 per share.


It was trailed by Forte Oil with a loss of N2.80 to close at N227, while Guinness lost N1.50 to close at N130 per share.


Lafarge Wapco depreciated by N1 to close at N81 and Nigerian Breweries dipped 50k to close at N145 per share.


On the other hand, 7UP topped the gainers’ table, appreciating by N1.90 to close at N162 per share.


UACN came second with a gain of N1.70 to close at N35.84, while Ashaka Cement garnered 88k to close at N21.28 per share.


GT Bank rose by 24k to close at N20.96 and Evans Medical appreciated by 10k to close at N2.27 per share.


Access Bank emerged the most active stock with an exchange of 48.06 million shares worth N240.62 million transacted in 235 deals.


FBN Holdings sold 37.06 million shares valued N279.54 million achieved in 667 deals and GTBank exchanged 36.30 million shares worth N762.55 million traded in 440 deals.


United Bank of Africa accounted for 18.97 million shares worth N73.41 million transacted in 213, while Zenith International Bank sold 16.74 million shares valued N292.47million in 226 deals.


In all, investors staked N3.29 billion on 229.48 million shares transacted in 3,901 deals.


This was against a turnover of 311.52 million shares worth N4.14 billion traded in 4,640 deals on Tuesday. (NAN)

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