Home Business NSE transactions reverse to downward trend, market indicators dips 1.17%

NSE transactions reverse to downward trend, market indicators dips 1.17%


Lagos – Activities at the Nigerian Stock Exchange (NSE) on Wednesday reversed to the downward trend after appreciating for two consecutive days.

The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N10.394 trillion, decreased by 1.17 per cent or N122 billion to close at N10.272 trillion.

Also, the All-Share Index dropped by 354.48 points to close at 29,870.86, compared with 30,225.34 declared on Tuesday following price depreciation.

Forte Oil recorded the highest price loss, shedding N12.42 to close at N236.08 per share.

Seplat trailed with a loss of N12.23 to close at N232.46, while Nigerian Breweries dipped N2.09 to close at N124.50 per share.

NAN reports that Lafarge Wapco lost N2 to close at N101, while UACN dipped N1.75 to close at N33.25 per share.

On the other hand, Total Oil led the gainers’ chart by 99k to close at N151.99 per share.

Berger gained 43k to close at N9.05, while Stanbic IBTC grew by 35k to close at N22 per share.

Vitafoam appreciated by 24k to close at N6, while Cutix and Ikeja Hotel chalked up 14k each to closed at N1.55 and N3.12 per share respectively.

The Financial Services Sector sustained its leading position as the delight of investors with 207.93 million shares worth N1.03 billion in 1,673 deals.

The Banking sub-sector drove activities in the sector accounting for 164.05 million shares valued N871.61 billion achieved in 1,266 deals.
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Similarly, the volume of shares traded decreased by 53.14 per cent as investors exchanged a total of 439.661 million shares worth N4.53 billion in 4,345 deals.

This was against the 938.209 million shares valued at N7.49 billion traded in 6,065 deals on Tuesday. (NAN)

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