Nestle leads losers’ pack on Nigeria Stock Exchange

Photo: wiley.com.au
Photo: wiley.com.au

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

The News Agency of Nigeria reports that 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 losses posted by major blue chips, the NSE market indices dropped further by 0.79 per cent.

The 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 share.

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.

(NAN)


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:Dr Dan,Suggest 5 Ways to Satisfy Your system and Last up 25Min In Bed When Having Sex, Click Here...


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.