NSE: Nestle leads losers table as market sheds N95bn

Trading on the floor of the Nigerian Stock Exchange (NSE) yesterday returned to bearish trend following loses recorded by some highly capitalised companies.

Nestle Nigeria Plc led the losers chart, dropping by N28.69 kobo to close at N1,071.31 kobo, UACN Pl followed  with a loss of N5.76 kobo to close at N61.25 kobo while Forte Oil, Dangote Cement and Cap Plc depreciated by N4.64 kobo, N2.97 kobo and N2.45 kobo respectively to close at N88.40 kobo, N235.00 and N46.55 kobo.

Conversely, Guinness Nigeria Plc topped gainers table, improving by N8.18 kobo to close at N171.78 kobo, Presco Plc trailed with a gain of N2.00 to close at N42.00 while Okomu Oil grew by N1.92 kobo to close at N40.47 kobo. Other stocks that appreciated in price were CCNN and Ashaka Cement which gained N0.84 kobo and N0.64 kobo respectively to close at N19.54 kobo and N18.64 kobo.

The NSE All Share Index declined by 297.23 basis points to 38862.87 points from 39160.10 points traded on Tuesday while market capitalisation of the listed equities shed N95 billion or 0.76 per cent to N12.483 trillion from N12.578 trillion recorded the previous day.

However, financial service sector recorded the highest volume of activities for the day, exchanging 276.233 million shares worth N2.082 billion in 3567 deals. Banking sub sector was most active in the sector with account of 129.695 million shares valued at N1.576 billion in 2030 deals. Other financial institutions which was enhanced by UBA Capital came second in the sector accounting for 89.184 million shares cost N459.293 million in 1318 deals.