Cadbury Nigeria Tops Losers’ Chart on NSE After 65 Kobo Loss

Cadbury Nigeria

By Dipo Olowookere

It was a bad day for Cadbury Nigeria Plc at the nation’s stock exchange as its shares depreciated by 65 kobo to close at N7.10 per unit.

The fast-moving consumer goods producer was among the 19 price losers recorded at the close of business on the floor of the Nigerian Stock Exchange (NSE) on Wednesday. The market lost 0.19 per cent when trading activities were paused for the day.

The other major price decliners yesterday were Lafarge Africa, which lost 50 kobo to settle at N13 per unit; NEM Insurance, which declined by 22 kobo to sell for N2.03 per unit; International Breweries, which fell by 20 kobo to quote at N3 per share; and Zenith Bank, which was weakened by 20 kobo to N17 per share.

Business Post reports that Nigerian Breweries was the best-performing stock at the midweek trading session, appreciating by 95 kobo to trade at N42 per share.

Berger Paints gained 45 kobo to end at N6.50 per unit, Union Bank appreciated by 35 kobo to sell for N5.35 per share, CAP improved by 10 kobo to trade at N17.10 per unit, while United Capital gained 10 kobo to finish at N3.11 per unit.

During the session, the volume of trades dropped 13.59 per cent to 211.8 million units from 245.1 million units, while the value of transactions depreciated by 19.76 per cent to N2.4 billion from N3.0 billion, with the number of deals rising by 1.50 per cent to 3,651 deals from 3,597 deals.

It was observed that banking stocks dominate the activity chart on Wednesday, with FCMB emerging as the active after transacting 30.3 million units worth N62.2 million.

Access Bank followed after selling 21.0 million units valued at N139.4 million, UBA traded 18.6 million shares for N109.7 million, Zenith Bank exchanged 18.0 million stocks worth N306.3 million, while FBN Holdings traded 13.5 million equities valued at N67.4 million.

Apart from the energy and consumer goods indices, which appreciated by 0.41 per cent and 0.07 per cent respectively, every other index closed negative with the insurance space losing 1.49 per cent, banking counter down by 0.58 per cent and the industrial goods space down by 0.23 per cent.

The All-Share Index (ASI) went down by 47.65 points yesterday to 25,550.31 points from 25,597.96 points, while the market capitalisation declined by N1 billion to N13.353 trillion from N13.354 trillion.

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. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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