NSE Trades 481.85m Shares

Investors on the Nigerian Stock Exchange (NSE) yesterday traded 481.851 million shares valued at N6.2 billion in 3,822 deals.

The volume of transactions represents 84.6 per cent increase over the 261.055 million shares worth N3.3 billion traded in 4,108 deals on Tuesday.

The Financial Services sector boosted the performance as the Guaranty Trust Bank emerged the most traded equity.

The sector accounted for 110.19 million shares valued at N2.25 billion. Fidelity Bank came second with 65.54 million shares worth N95.21 million, while Custodian and Allied Insurance accounted for 58.32 million shares valued N218.39 million. Continental Insurance traded 35.25 million shares worth N29.26 million, while UBA exchanged 28 million shares valued at N96.3 million.

However, the stock market has continued to consolidate on the bearish trend as the NSE All-Share Index depreciated by 2.78 per cent or 827.92 points or to close at 28,961.67 as against the 29,789.59 achieved on Tuesday.

Similarly, the market capitalisation declined by N273 billion to close at N9.562 trillion from the N9.835 trillion posted on Tuesday. Seven Up recorded the highest price gain of N7.70 to close at N166.70 per share.

It was trailed by Beta Glass, which gained N1.26 to close at N26.46, while Union Dicon appreciated by 54 kobo to close at N13.95per share. Etranzact and Red Star Express gained 14 kobo each to close at N2.94 and N3.75 per share respectively.

Conversely, Seplat led the losers’ chart by N14.01 to close at N266.24 per share. Nestle lost N12.39 to close at N770.61, while Forte Oil dropped N10.80 to close at N205.33 per share. Total went down by N7.89 to close at N150.11 and Mobil lost N7.55 to close at N143.50 per share.


Source : Leadership

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