Stock market loses N130 bn

Transactions on the floor of Nigerian Stock Exchange (NSE) Wednesday returned to bearish trend following loses recorded by capitalised stocks, forcing the market indicators to  decline by 0.97 per cent.

Market capitalisation of listed equities depreciated by N130 billion to N13.290 trillion from N13.420 trillion reported the previous day.

The NSE All Share Index also dropped by 267.15 basis points to 27319.64 points from 27586.79 traded the previous day.

Investors traded 250.452 million shares valued at N3.190 billion in 3219 deals against 294.412 million shares worth N3.495 billion exchanged hands in 3337 deals.

A review of investment during the day showed that international Brewery topped gainers table, appreciating by N0.90 kobo to close at N11.90 kobo, Lafarge Wapco followed with a gain of N0.60 kobo to close at N14.95 kobo, Blacksmith Kline gained N0.45 kobo to close at N7.90 kobo, UAC of Nigeria increased by N0.45 kobo to close at N5.00, Union Bank of Nigeria added N0.40 kobo to close at N7.00

Nestle Nigeria Plc on the contrary, recorded the highest loss for the day, dropping by N50.00, to close at N1250.00, Guinness Nigeria Plc trailed with a loss of N4.10 kobo to close at N37.30 kobo, Dangote Cement Industry depreciated by N2.30 kobo to close at N157.70 kobo, Forte Oil fell by N1.60 kobo to close at N14.85 kobo, MTN Nigeria Communications sheds N1.50 kobo to close at N138.50 kobo.

The NSE daily trading further showed that Access Bank Plc was the most active stock during the day, accounting 81.853 million shares worth N542.313 million, Wapco followed with account of 40.645 million shares valued at N587.391 million, Zenith Bank exchanged 27.503 million shares cost N481.482 million, FBNHoldings sold a total of 19.279 million shares valued at N89.538 million while Transnational Corporation of Nigeria traded 13.705 million shares worth N14.071 million.

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