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Newly Listed Med-View Airline Leads Market Turnover as Investors Lose N46b

By Modupe Gbadeyanka

Med-View Airline emerged the most traded equity on Wednesday a day after it was listed on the on the Nigerian Stock Exchange (NSE).

Shares of the company were investors’ toast, accounting for 72.7 million units exchanged at N109.2 million executed in 39 deals.

However, the stock finished flat at N1.50 per share at the close of trading activities on the floor of the NSE.

On Tuesday, the NSE listed a total of 9.75 billion ordinary shares of Med-View on its main board at N1.50 per share.

Business Post correspondent reports that the market capitalisation depreciated by N46 billion today to close at N8.93 trillion, while the all-share index declined by 132.69 points or 0.51 percent ending at 25,903.55 points.

Nestle emerged the highest loser at the market going down by N27.1k to close at N699.99k per share.

Total trailed with a loss of N12.1k to end at N278 per share, while Seplat depreciated by N9.89k to finish at N370.11k per share.

Furthermore, Nigerian Breweries shed N4.95k to close at N134.85k per share and Forte Oil slipped by N3.56k to end at N67.66k per share.

On the contrary, Mobil topped the advancers’ club on the NSE on Wednesday improving by N5 to close at N275 per share, while Lafarge gained N3.39k to finish at N44.40k per share.

Similarly, Dangote Cement rose by N2 to end at N168 per share, Access Bank leaped by 20k to finish at N6.80k per share and NASCON progressed by 17k to close at N8 per share.

Business Post further reports that the profit taking embarked on by investors continued on Wednesday on the floor of the stock market.

Investors bought and sold a total of 305 million shares worth N1.6 billion in 2,620 deals compared with the 205.8 million units posted yesterday at N2.8 billion executed in 2,914 deals.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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