NSE: Equity market declines further, sheds N422bn

Trading activities at the Nigerian Stock Exchange yesterday sustainer declining profile, dropping by N422 billion.
Specifically, market capitalisation of listed equities depreciated by 3.46 per cent to N11.789 trillion from N12.211 trillion reported the previous day.
Also, the NSE All Share Index went down by 1156.38 basis points to 32292.79 points from 33449.17 traded on Tuesday.
Investors traded 246.906 million shares worth N6.930 billion in 3912 deals against 150.671 million shares valued at N1.596 billion exchanged hands the previous day at 3678 deals.
An analysis of the trading result showed that Seplat Petroleum Development Company led gainers table during the day, gaining N3.70 kobo to close at N606.70 kobo, Forte Oil followed with a gain of N0.80 kobo to close at N18.90 kobo, Guaranty Trust Bank appreciated by N0.10 kobo to close at N32.60 kobo, United Capital also increased by N0.06 kobo to closeat N2.80 kobo, Law Union and Rock insurance added N0.05 kobo to close at N0.60 kobo.
Dangote Cement Industries, on the contrary topped losers chart, dropping by N13.00 to close at N210.00, Nestle Nigeria PLC trailed with a loss of N6.00 to close at N1479.00, Stanbic IBTC fell by N4.00 to close at N41.00, Nigerian Breweries down by N4.00 to close at N84.00, Cement of Company of Northern Nigeria depreciated by N3.05 kobo to close at N27.85 kobo.
Further analysis of the transactions showed that Access Bank of the banking subsector was the active stock during the day, trading 46.154 million shares worth N368.780 million, FBNHoldings followed with account of 22.604 million shares valued at N194.230 million, Transnational Corporation of Nigeria exchanged a total of 19.674 million shares cost N22.160 million, Dangote Cement transacted 18.704 million shares worth N3.928 billion while Zenith International Bank sold 16.947 million shares valued at N334.241 million

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