Blue chips drop prices on NSE


nse2Major blue chips on the Nigerian Stock Exchange (NSE) on Wednesday recorded price depreciation following huge profit taking by investors.

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The News Agency of Nigeria (NAN) reports that Nestle, for the third consecutive day, topped the losers’ chart, dropping N45 to close at N1,160 per share.

It was followed by Nigerian Breweries which lost N5 to close at N173, while Guinness depreciated by N2.89 to close at N235.11 per share.

Dangote Cement lost N1.75 to close at N188.25, while UACN dipped by N1.60 to close at N64 per share.

Conversely, Conoil recorded the highest price gain, for the third consecutive day, gaining N6.40 to close at N68.95 per share.

CAP emerged second with N2.45 to close at N51.65, while Lafarge Wapco appreciated by N1 to close at N104 per share.

MRS Oil grew by 46k to close at N43.21, while Transcorp rose by 27k to close at N3 per share.

Consequently, the All-Share Index lost 344.48 points or 0.89 per cent to close at 37,949.11 against 38,293.59 recorded on Tuesday.

The market capitalisation lost N110 billion or 0.89 per cent to close at N12.124 trillion compared with N12.234 trillion posted on Tuesday.

NAN reports that investors staked N3.33 billion on 291.73 million shares in 4,695 deals against the 357.46 million shares worth N3.26 million traded in 5,054 deals on Tuesday.

Transcorp remained the toast of investors with exchange of 63.36 million shares valued at N185.93 million.

Zenith Bank trailed with a total of 45.87 million shares worth N976.59 million, while ETI exchanged 27.97 million shares valued at N390.15 million.

Wapic Insurance accounted for 23.97 million shares worth N20.49 million, while Unity Bank sold 14.83 shares valued at N7.76 million. (NAN)

Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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