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NSE Index Sheds 0.11% As Total, NB Lead Decliners


By Modupe Gbadeyanka

The stock market in Nigeria closed on a downward trend today after it ended on a positive note yesterday.

The capital market shed N10 billion at the close of trading activities on Wednesday after it recorded a leap of N11 billion on Tuesday.

The Nigerian Stock Exchange (NSE) all-share index lost 29.4 points or 0.11 percent to close at 27,223.08 points, while the market capitalisation finished at N9.35 trillion compared to N9.36 it closed the previous day.

Business Post correspondent reports that the volume of shares traded today by investors improved by 15.1 million.

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A total of 202.7 million shares were sold in 3,337 deals at N1.3 billion against 187.6 million units traded in 3,065 deals valued at N1.3 billion yesterday.

Total led the losers’ chart at the close of activities on Wednesday after declining by N12.50k to close at N332.50k per share, while Nigerian Breweries trailed with a loss of N1.1k to end at N145 per share. Also, UAC Nigeria shed 60k to finish at N18.60k per share, ETI slumped by 53k to close at N10.18k per share and Oando fell by 23k to finish at N4.47k per share.

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Business Post correspondent further reports that 15 stocks recorded drop in price, while 14 remained unchanged and 18 gained at the market today.

Lafarge Cement recorded the highest gain on Wednesday, appreciating by N2.30k to close at N49.80 per share after it opened N47.50k per share this morning, same price it closed yesterday.  Investors traded 249,591 units of Lafarge’s shares on Wednesday at N12 million in 46 deals.

MRS emerged second on the gainers’ table today after improving by N2.16k to close at N45.51k per share, though it opened at the market this morning at N45.51k per share after closing at N43.35k per share the previous day.

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Investors bought a total of 64,702 shares of MRS worth N2.9 million in 7 deals at the close of trading on Wednesday.

Other gainers at the capital market today were Guinness Nigeria, which went up by N1.91k to close at N84 per share; Union Bank Nigeria jumped by 21k to finish at N4.51k per share and Champion Breweries leaped by 18k to close at N2.64k per share.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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