NSE maintains downward trend

Activities on the Nigerian Stock Exchange (NSE) maintained a downward trend on Wednesday with major equities recording price loses led by Nestle.

 

Losers

Nestle lost N14.77 to close at N800 per share.

7UP came second with a loss of N13.96 to close at N127.36 and Forte Oil shed N6.98 to close at N87.02 per share.

Flour Mills was down by 94k to close at N17.94, while Glaxosmithkline declined by 75k to close at N14.26 per share.

As a result of the huge loses posted by major blue chips, the NSE market indices dropped further by 0.79 per cent.

All-Share Index shed 203.92 points or 0.79 per cent to close at 25,653.14 compared to 25,857.06 achieved on Tuesday.

Also, the market capitalisation, which opened at N8.901 trillion, lost N71 billion or 0.79 per cent to close at N8.830 trillion.

On the other hand, International Breweries led the gainers’ table with a growth of 89k to close at N19.89 per sh

Gainers

Ecobank Transnational Incorporated followed with a gain of 19k to close at N9.71 and Union Bank of Nigeria garnered 14k to close at N4.30 per share.

Lafarge Africa appreciated by 10k to close at N44.10 and Fidson Health Care increased by 6k to close at N1.29 per share.

Zenith International Bank was investors delight in volume terms, trading 19.32 million shares worth N272.10 million.

It was trailed by Access Bank, having accounted for 16.89 million shares valued at N91.29 million and United Bank for Africa traded 12.63 million shares worth N53.81 million.

Eterna Oil sold 12.50 million shares valued at N38.28 million, while Wema Bank exchanged 10.00 million shares worth N5.90 million.

Investors staked N1.35 billion on 145.74 million shares exchanged in 2,421 deals.

This was in contrast with a turnover of 189.73 million shares valued at N905.10 million achieved in 2,417 deals on Tuesday.