NSE Market Indices Shed 0.94 Per Cent

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Trading activities on the Nigerian Stock Exchange (NSE) on Wednesday for the third consecutive day, remained on a downward trend with major blue chips equities recording price depreciation.

The News Agency of Nigeria (NAN) reports that the All-Share Index lost 267.38 points or 0.94 per cent to close at 28,221.18 against 28,488.56 posted on Tuesday.

Also, the market capitalisation, which opened at N9.784 trillion, shed N92 billion or 0.94 per cent to close at N9.692 trillion.

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NAN reports that Dangote Cement topped the losers’ chart, dropping by N2.50 to close at N187.50 per share.

Total trailed with a loss of N2 to close at N180, while Stanbic lost 72k to close at N14.20 per share.

Zenith Bank shed 64k to close at N15.50 and Oando dipped 57k to close at N5.39 per share.

Conversely, Flour Mills recorded the highest price gain to lead the gainers’ table, growing by 20k to close at N21.70 per share.

Dangote Sugar followed with a gain of 15k to close at N6.80, Premier Breweries gained 14k to close at N2.95 per share.

Skye Bank increased by 6k to close at 78k and Nigerian Breweries also appreciated by 6k to close at N135.10 per share.

NAN reports that NEM Insurance drove the volume of shares with an exchange of 93.34 million shares worth N93.34 million.

It was trailed by United Bank for Africa (UBA), accounting for 40.74 million shares valued at N185.51 million and Skye Bank traded 35.95 million worth N28.02 million.

Transcorp sold 25.49 million shares valued at N36.46 million and FBN Holdings 18.03 million worth N63.06 million.

In all, a total of 309.72 million shares valued at N2.08 billion were exchanged by investors in 3,934 deals.

NAN reports that this was in contrast with 242 million shares worth N1.56 billion transacted in 3,684 deals on Tuesday.

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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