Equities Sustain Sliding Profile On The Exchange

Nigerian Stock Exchange
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Activities on the floor of the Nigerian Stock Exchange (NSE) yesterday witnessed another drop in share prices as the bears sustained their grip on the activities of the local bourse following a loss of 1.48 per cent.

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Equities market losses widened the third trading day as investors remained on the sideline following investment apathy.

However, the local bourse recorded 14 gainers and 26 losers.

Consequently, the All- Share Index dipped 536.80 basis points or 1.48 per cent to close at 35,629.13 points as against 36,165.93 points recorded the previous day while market capitalisation of equities depreciated by N185.020 billion from N12.465 trillion the previous day to N12.280 trillion.

Further analysis of the day’s trading showed that Total Nigeria topped the gainers’ table with 650 kobo to close at N243.00 per share, followed by Nigerian Breweries gained 140 kobo to close at N185.00 per share, Cutix grabbed 22 kobo to close at N2.43 per share, May & Baker nicked 13 kobo to close at N3.01 per share, while Continental Reinsurance trailed with 6 kobo to close at N1.40 per share, among others.

On the flip side, Mobil Oil led the decliners’ table with a loss of 868 kobo to close at N165.11 per share, followed by Dangote Cement which dropped 813 kobo to close at N204.52 per share, Guinness Nigeria slipped by 198 kobo to close at N75.00 per share, Forte Oil depreciated by 100 kobo to close at N49.00 per share, while Unilever Nigeria shed 71 kobo to close at N39.29 per share, among other.

Fidelity Bank emerged the most traded equity on Wednesday with an exchange of 42.810 million shares worth N58.211 million, followed by Sterling Bank having accounted for 39.155 million shares valued at N39.890 million, Access Bank exchanged 33.029 million shares valued at N324.797 million; United Bank for Africa recorded 29.477 million shares valued at N279.7272 million while FBN Holdings traded 12.953 million shares worth N74.137 million.

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