Nigerian Equities Market Records Further 0.46% Loss

By Modupe Gbadeyanka

The second trading day on the floor of the Nigerian Stock Exchange (NSE) continued on a bearish trend on Wednesday with the market declining by 0.46 percent.

At the close of trading activities, the market capitalisation depreciated by 42 billion to end at N9.1 trillion, while the all share index slumped by 121.85 absolute points or 0.46 percent to finish at 26,495.04 absolute points.

However, investors staked N1.2 billion on 602 million shares transacted in 2,150 deals, Business Post correspondent reports.

GTBank lost N1.10k to close at N22.90k per share, Lafarge depreciated by 95k to finish at N40 per share and Forte Oil slumped by 62k to end at N83.60k per share.

Also, Ashaka Cement fell by 59k to close at N11.43k per share and ETI declined by 23k to finish at N9.54k per share.

On the other hand, Flour Mill improved by 49k to end at N18.49k per share, while Zenith Bank advanced by 15k to finish at N14.55k per share.

Likewise, UAC-Prop rose by 13k to close at N2.88k per share, Vita Foam jerked up by 12k to end at N2.54k per share and AfriPrud added by 9k to close at N3 per share.

Unity Kapital Assurance Plc and Omoluabi Savings and Loans Plc emerged the most traded equities today in terms of volume.

While Unity Kapital Assurance Plc sold 436 million shares valued at N336 million, Omoluabi Savings and Loans Plc transacted 104 million units at N83 million.