NSE records 2.37 pct lose on Nestle, Dangote Cement
Activities on the Nigerian Stock Exchange (NSE) returned to negative territory on Wednesday, after appreciating for two consecutive days.
Newsmen report that the crucial market indices closed southward, dropping by 2.37 per cent, amid loses by Nestle and Dangote Cement.
The All-Share Index lost 787.85 points or 2.37 per cent to close at 32,403.60 against 33,191.45 recorded on Tuesday.
Also, the market capitalisation which opened at ₦12.117 trillion shed ₦288 billion or 2.38 per cent to close at ₦11.829 trillion.
Mr Ambrose Omordion, the Chief Operating Officer, InvestData Limited, attributed the development to profit taking embarked upon by investors.
Omordion said that investors took advantage of gains recorded in the last couple of days.
Nestle topped the losers’ chart, declining by ₦30 to close at ₦1,370 per share.
Dangote Cement trailed with a loss of ₦14.50 to close at ₦200, while Unilever was down by N2.65 to close at ₦43 per share.
Flour Mills dipped 85k to close at ₦19.65, while FBN Holdings declined by 45k to close at N9.20 per share.
On the other, Guinness led the gainers’ table, growing by ₦1 to close at ₦80.50 per share.
Forte Oil followed with a gain of 50k to close at ₦21, while Nigerian Breweries appreciated by 40k to close at ₦88.10 per share.
Cadbury added 35k to close at ₦9.50, while Zenith Bank advanced by 20k to close at ₦24.20 per share.
In spite of the drop in market indicators, the volume of shares traded closed higher as investors bought and sold 380.97 million shares valued at ₦2.33 billion and transacted in 3,278 deals.
Newsmen report that this was in contrast with 185.19 million shares worth ₦2.35 billion shares achieved in 3,180 deals.
FCMB Group was the most traded, exchanging 142.69 million shares valued at ₦222.12 million.
Access Bank followed with an account of 90.79 million shares valued at ₦726.32 million, while Transcorp traded 16.35 million shares worth ₦22.04 million.
Regency Insurance traded 16.34 million shares valued at ₦3.27 million, while Sterling Bank sold 14.11 million shares worth ₦21.17 million.
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