NSE Index Falls By 0.28% As Nestle Loses N10

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) recorded a loss on Tuesday after the major market indicators dropped by 0.28 percent.

This is the first time in five days that the market was closing in red.

Business Post correspondent reports that the all-share index fell by 0.28 percent or 71.8 basis points to close at 25,671.23 basis points compared to 25,743.03 basis points it closed the previous day after going up by 0.01 percent or 2.2 basis points.

Also, the market capitalisation, which closed at N8.855 trillion on Monday, ended at N8.831 trillion, indicating a drop of N24.7 billion.

A total of 14 stocks appreciated at the market on Tuesday led by Total Plc, which leaped by N28.29k to close at N304.44k per share, and trailed by Forte Oil, which rose by N7.36k to finish at N79.30k per share.

Also, Flour Mill gained 49k to end at N18.99k, NASCON went up by 30k to finish at N6.95k per share and Portland Paint added 18k to close at N2.8k per share.

Business Post further reports that at the market, 15 equities recorded crash in their prices and were led by Nestle Plc, which declined by N10 to finish at N805 per share.

In the same vein, Guinness slumped by N4.1k to close at N76.32k per share, Dangote Cement depreciated by N1.84k to end at N158.16k per share, Nigerian Breweries declined by N1 to finish at N144 per share, while Cadbury sank by 15k to close at N11.15k per share.

In addition, a total of 189 million shares were exchanged at the stock market on Wednesday worth N2.494 billion and executed in 2,894 deals.

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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