Home Business Negative sentiment persists on NSE, as market capitalisation loses N46bn

Negative sentiment persists on NSE, as market capitalisation loses N46bn


Lagos – Negative sentiment continued at the Nigerian Stock Exchange (NSE) on Wednesday with the market capitalisation shedding N46 billion or 0.47 per cent due to profit taking.

The News Agency of Nigeria (NAN) reports that the market capitalisation which opened at N9.746 trillion lost N46 billion to close at N9.700 trillion.

Also, the All-Share Index lost 131.84 points or 0.47 per cent to close at 28,219.44 against 28,351.28 achieved on Tuesday due to price depreciation.

Forte Oil recorded the highest price loss to lead the losers’ chart, shedding N14.50 to close at N275.50 per share.

It was followed by Nigerian Breweries having lost N1.86 to close at N120.60, while Okomu Oil dipped N1.42 to close at N27.48 per share.

7UP dropped 99k to close at N184 and Stanbic IBTC lost 95k to close at N18.43 per share.[pro_ad_display_adzone id=”70560″]

Conversely, Seplat led the gainers’ table, increasing by N4 to close at N230 per share.

Berger Paint garnered 45k to close at N9.58, while Ashaka Cement improved by 39k to close at N22.40 per share.

Zenith Bank rose by 25k to close at N16.49 and UBN gained 15k to close at N5.70 per share.

Similarly, the volume of shares traded increased by 10.47 per cent as investors’ staked N1.43 billion on 143.69 million shares transacted in 2,406 deals.

NAN reports that this was in contrast with 130.07 million shares valued N2.51 billion achieved in 3,156 deals on Tuesday.

FBN Holding sold 53.21 million shares worth N267.73 million emerging the most traded equity.

UBA traded 11.52 million shares worth N42.18 million, while Access Bank accounted for 10.49 million shares valued N48.67 million.

Unity Bank recorded a turnover of 8.69 million shares worth N10.16 million and Wapic Insurance sold 6.30 million shares valued N3.15 million. (NAN)

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