Equity Market declines by N 149bn

By Amaka Ifeakandu Lagos-

Transactions on the fl oor of Nigerian Stock Exchange yesterday opened week in downward trend, dropping by N149 billion. Market Capitalisation of listed equities fell by 1.72 per cent to N8.507 trillion from N8.656 trillion. Also, the NSE All Share Index down by 430.10 basis point to 24581.99 points from 25012.08 traded previously.

Investors for the day traded 128.160 million shares valued N1.472 billion in 2978 deals. A breakdown of the investment showed that, Nestle Nigeria Plc led gainers table for the day, growing by N62.58 kobo to close at N691.00, Forte Oil followed with a gain of N2.63 kobo to close at N54.50 kobo, Nigerian Breweries gained N1.15 kobo to close at N130.05 kobo, Guaranty Trust Bank appreciated N0 20 to close at N25.00 and Zenith International Bank grew by N0 15 kobo to close at N14.50 kobo. Dangote Cement recorded the highest loss for the day, declining by N11.29 kobo to close at N249.26 kobo, 7UP Bottling Company trailed with a loss of N9.00 to close at N86.00, Guinness Nigeria Plc fell by N2.15 kobo to close at N61.35 kobo.

Cap Old declined by N1.48 kobo to close at N28.12 kobo and Unilever Nigeria Plc down by N1.17 kobo to close at N27.81 kobo. Zenith Bank recorded the highest volume of activities for the day, exchanging 24.029 million shares worth N348.763 million, United Bank for Africa followed with account of 14.895 million shares valued at N74.719 million, Transnational Corporation of Nigeria traded 12.466 million shares cost N8.669 million, United Capital sold N13.375 million shares valued N33.903 million and NEM insurance traded 10.431 million shares worth N8 649 million.

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