Volume of shares traded at Nigerian bourse drops to 54.03% amid political uncertainty

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    The volume of shares traded on the Nigerian Stock Exchange (NSE) dropped drastically on Wednesday by 54.03 per cent, amid political uncertainties. Investors at the end of trading transacted 114.04 million shares valued at N730. 08 million compared to 248.05 million shares worth N2.25 billion in 3,932 deals on Tuesday.

    An analysis of the activity chart shows that United Bank for Africa was the most active stock, exchanging 21.39 million shares valued at N205.21 million. Sovereign Trust Insurance came second with an account of 14.13 million shares worth N3.40 million, while Transcorp traded 8.37 million shares valued at N10.02 million.

    Zenith International Bank sold 7.86 million shares worth N186.58 million, while Regency Insurance traded 5.56 million shares worth N1.34 million. Also, the crucial market indicators closed lower for the third consecutive days, dropping further by 0.09 per cent. The All-Share Index which opened at 36,333.80 shed 33.98 points or 0.09 per cent to close at 36,299.82. In the same vein, the market capitalisation shed N12 billion or 0.09 per cent to close at N13.249 trillion as against N13.261 trillion posted on Tuesday.

    Total topped the laggards’ chart with a loss of N5 to close at N190 per share. Oando trailed with a loss of 25k to close at N5.45, while Cutix also depreciated by 25k to close at N4 per share. Guaranty Trust Bank was down by 15k to close at N39, while United Bank for Africa declined by 10k to close at N9.50 per share.

    Conversely, Redstar Express led the gainers’ table, increasing by 35k to close at N5.70 per share. PZ Industries followed with a gain of 25k to close at N14.25, UACN gained 20k to close at N13 per share. UAC Property appreciated by 10k to close at N1.80, while NASCON also grew by 10k to close at N20 per share. NAN

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    Samson Gbenga Salau [Editorial Board Adviser] Gbenga Samuel Salau is a professional journalist with over 17 years experience in journalism, he is a graduate of Communication and Language Arts, University of Ibadan. On completion of his youth service, he joined The Guardian as a freelance journalist and was later absorbed as a staff. While in the University, he was a campus journalist reporting for the Independence Hall and Faculty of Arts Press Clubs. As a campus journalist, he won the following awards; Independence Hall Press Best News writer; University of Ibadan Union of Campus Journalists’ Best News Reporter/Writer; First Runner-up, Reuben Abati Award for Investigative Journalism; Association of Faculty of Arts Students’ Press Best Reporter; University of Ibadan Union of Campus Journalists’ Best Political Writer; Winner, Reuben Abati Award for Investigative Journalism, and University of Ibadan Union of Campus Journalists’ Best Interviewer. He served the Association of Communication and Language Arts Students, as the Public Relation Officer, the same year he was appointed the News Editor of the Association of Faculty of Arts Students Press. The following session, he was made the General Editor, and a member of the 13-man University of Ibadan Students’ Union Transition Committee. As a reporter in The Guardian, in 2014, he won the Promasidor Quill Award Best Report on Nutrition and DAME Business Reporting category. In the 2015 edition of the Promasidor Quill Award, he won the best Report on Nutrition and Brand Advocate Categories, while in 2016, he won the NMMA Print Journalist of the Year, first runner-up Golden Pen Reporter of the Year and SERAs CSR Awards. Gbenga Salau loves traveling, reading, and listening to songs with good lyrics no matter the genre.

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