Modupe Gbadeyanka
By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) extended its bearish run on Wednesday, closing 0.96 percent lower to shrink the year-to-date return to 14.96 percent.
Business Post reports that the profit-taking continued today as investors tread cautiously, watching what becomes of the standoff between the executive and the legislature.
The All-Share Index (ASI) depreciated by 426.45 points to close at 43,963.40 points from 44,389.85 points yesterday, while the market capitalisation went down by N143 billion to settle at N15.760 trillion.
The volume and value of shares transacted on Wednesday by investors declined by 27.3 percent and 32.4 percent.
A total of 536.4 million shares were traded today in 7,370 deals worth N5.2 billion against 737.9 million equities worth N7.7 billion valued at 8,927 deals.
Transcorp topped the activity chart, selling a total of 91 million shares worth N178.2 million, and was followed by Skye Bank, which sold 83.3 million shares valued at N117.5 million.
FBN Holdings traded 60.7 million shares for N754.4 million, Unity Bank transacted 43.9 million equities for N58 million, while FCMB exchanged 38.6 million units at N118.5 million.
GTBank led the losers’ chart on Wednesday, adding N1.10k to its share value to settle at N50.90k per share.
Zenith Bank lost N1 to close at N31 per share, while Cadbury Nigeria fell by 98k to finish at N15.1k per share.
FBN Holdings depreciated by 52k to close at N12.50k per share, while NASCON declined by 50k to end at N19.50k per share.
On the flip side, Nestle emerged the biggest price gainer, appreciating by N3.89k to close at N1475 per share.
Nigerian Breweries grew by N2.99k to finish at N147.99k per share, while CCNN appreciated by 60k to end at N17.90k per share.
Lafarge went up by 52k to finish at N52.50k per share, while PZ Cussons blew by 29k to expand to N23.79k per share.
