NSE Index Closes Flat After Prices of 17 Stocks Remain Unchanged

NSE index falls

By Dipo Olowookere

The prices of 17 stocks on the Nigerian bourse maintained their previous levels on Wednesday, influencing the general outcome of the market.

Business Post reports that during the midweek trading session, the Nigerian Stock Exchange (NSE) closed flat as the All-Share Index (ASI) recorded a meagre 0.29 points to settle at 28,344.33 points as against the previous session’s 28,344.04 points, while the market capitalisation remained at N14.815 trillion as the prior day.

Despite the market closing flat yesterday, four of the key sub-sectors of the bourse closed in the green territory, while one finished in the danger zone.

The insurance sector appreciated by 0.60 per cent, the banking space grew by 0.46 per cent, the consumer goods counter rose by 0.21 per cent, the industrial goods space gained 0.15 per cent, while the energy sector reported a 0.17 per cent loss.

A total of 218.4 million shares worth N3.1 billion exchanged hands in 3,896 deals at the session compared with the 535.8 million shares worth 5.0 billion stocks traded in 4,498 deals on Tuesday.

Zenith Bank emerged the most traded stock after transacting 53.1 million units valued at N1.1 billion and was followed by UBA, which exchanged 33.5 million units worth N223.4 million.

GTBank traded 25.1 million shares for N753.2 million, FBN Holdings exchanged 13.7 million equities valued at N84.5 million, while Wema Bank traded 9.1 million stocks for N5.0 million.

Apart from the 17 stocks that closed flat during the session, 14 equities appreciated in price, while shares of 11 companies on the exchange depreciated in value.

On top of the gainers’ chart was Guinness Nigeria, which appreciated by 50 kobo to close at N15.50 per unit and was followed by GTBank, which rose by 45 kobo to quote at N30 per unit.

Eterna improved its equity price by 43 kobo to sell for N4.81 per unit, Lafarge Africa gained 35 kobo to trade at N17.35 per share, while Africa Prudential garnered 31 kobo to close at N5.70 per unit.

On the side of the losers, Stanbic IBTC led the pack after shedding N1.50 to close at N42.50 per unit and was deputised by Ardova, which lost 45 kobo to trade at N12 per share.

eTranzact depreciated by 21 kobo to sell at N1.91 per share, FCMB decreased by 9 kobo to N2.26 per share, while Caverton dropped 5 kobo to settle at N1.75 per unit.

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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