NSE Index Sheds 0.03% As Nestle Leads Losers

Nigerian Stock Exchange NSE

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) recorded its first loss this week with the all-share index dropping 7.09 basis points or 0.03% at the end of trading on Wednesday.

The ASI, which closed at 28,034.32 points on Tuesday, finished at 28,027.23 points today.

Likewise, the market capitalisation lost N2.431 billion today to finish at N9.626 trillion in contrast to N9.629 trillion it ended the previous day.

The trend continued in the volume of equities exchanged on Wednesday on the floor of the NSE as a sharp drop was witnessed in that area.

Yesterday, 234.188 million shares were traded in 3335 deals valued at N2.719 billion, but today, a total of 155.581 million units of shares were transacted in 3277 deals worth N1.433 billion.

Also today, Nestle led the losers’ chart, declining by N19.43k to close at N805.57k, WAPCO shed N1.28k to finish at N46.81k, Presco lost N1.25k to end at N40.25k, Flour Mill fell by 65k to close at N20.5k, while UAC-Prop depreciated by 37k to finish at N3.58k.

In contrast, Seplat topped the gainers’ table after it chalked up N18.37k to close at N385.88k per share, while Guinness followed with a N3.74k gain to finish at N79.74k per share.

Total appreciated by N2.50k to close at N289.50k per share, GTBank grew by 15k to end at N24 per share, while UBA gained 13k to close at N4.31k per share.

Majority of the shares traded on Wednesday on the NSE by investors were from the financial services sector.

While GTBank accounted for 28.092 million shares traded in 230 deals valued at N672.804 million, UBA had a total of 28,039 million units sold in 297 deals at N119.802 million.

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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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