Nestle, Forte Oil Crash Stock Market Further by 0.17%

January 19, 2017
Nestle, Forte Oil Crash Stock Market Further by 0.17%

Nestle, Forte Oil Crash Stock Market Further by 0.17%

By Modupe Gbadeyanka

Transactions in volume terms on the Nigerian Stock Exchange (NSE) finished lower on Thursday compared with what was posted on Wednesday.

Investors in the Nigerian equity market exchanged 196.5 million shares in 3,317 deals valued at N2.6 billion against 394.8 million units transacted yesterday in 3,015 deals worth N1.4 billion.

For the third consecutive day, Nestle Plc led the losers’ chart, shedding N3 to close at N752 per share.

Forte Oil came second after losing N2 to end at N67 per share, while Dangote Cement fell by N1 to end at N167 per share.

In the same vein, Nigerian Breweries declined by 60k to N142 per share, while International Breweries depreciated by 48k to finish N17.50k per share.

In all, 19 stocks recorded losses on the floor of the NSE today same as the number of equities that appreciated at the market, Business Post reports.

Total rose by N9.52k to lead the gainers’ table to close at NN294.97k per share, while Mobil increased by N3.50k to finish at N264 per share.

Similarly, ETI improved by 41k to end at N10.10k per share, Guinness chalked up 40k to finish at N64.5k per share, while Dangote Sugar advanced by 27k to close at N6.35k per share.

Major indices on the NSE finished in the red territory for the third straight days.

The all-share index declined by 0.17 percent or 43.74 basis points to close at 26,201.60 basis points, while the market capitalisation shed N15 billion to end at N9.01 trillion.

Modupe Gbadeyanka

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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