Stock market sheds N28bn as Nestle leads losers chart

Nestle Nigeria Plc for the second time this week led the losers table at the nation’s stock market, dropping by N18.00. The company which traded at N1135.00 on Monday lost N33.00 within three days to close on Thursday at N1102.00.

Guinness Nigeria Plc trailed with a drop of N5.00 to close at N212.00 while Nigerian Breweries, Dangote Cement and Presco Plc failed by N4.50 kobo, N3.96 kobo and N2.42 kobo respectively to close at N145.50 kobo, N2.35 kobo and N46.06 kobo.

On the contrary, Julius Berger recorded the highest gain for the day, appreciating by 0.95 kobo to close at N75.00, PZ Cussons followed with a gain of N0.69 kobo to close at N37.00 while Red starex enhanced by N0.21 kobo to close at N4.58 kobo.
Other stocks that recorded price appreciation were UPL and Cutix which decreased by N0.15 kobo and N0.08 kobo respectively to close at N4.20 kobo and N2.10 kobo.

Zenith International Bank traded the highest volume activities for the day exchanging 46.046 million shares worth N950.948 million, Transnational Corporation of Nigeria followed with 35.359 million shares valued at N140.000 million while First City Monument Bank traded 23.502 million shares cost N87.977 deals.

Wema Bank Plc also exchanged 22.756 million shares worth N22.977 million and UBA sold 19.014 million shares valued at N145.114.
The NSE daily trading result showed that market capitalisation of listed equities declined by N289 billion or 2.23 per cent to N12.622 trillion from N12.911 trillion while All Share Index shed 900.67 basis points to 39378.82 points from 40278.82 points recorded the previous day.

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