Trading Firms In Nigerian Bourse Lose N18bn

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NigerianstockmarketAs bargain appetite for equities remained low, a total of N18 billion was further eroded from the value of Nigerian equities yesterday.

Market capitalisation depreciated by N18 billion to close at N13.607 trillion from N13.616 trillion the preceding trading day. The Nigerian Stock Exchange-All Share Index (NSE) decreased by 56.86 points or 0.14 per cent to close at 41,207.79 points from 41,264.65 points on Tuesday.

Nestle led the losers’ chart by N7.90 to close at N1,047 per share. Cadbury depreciated by N2.98 to close at N56.87, while Forte Oil lost N2.03 to close at N224.97 per share.

Wapco dipped by 55 kobo to close at N115.45, while Nascon fell by 50 kobo to close at N9.69 per share.

On the other hand, Guinness led the gainers’ chart by N4.44 to close at N184.94 per share. Nigerian Breweries gained N1.11 to close at N176.75 per share, while Guaranty Trust Bank grew by 65 kobo to close at N30 per share.

UACN appreciated by 50 kobo to close at N59 per share, while Stanbic IBTC gained 49 kobo to closed at N30.50 per share.

Transcorp emerged the most traded stock, accounting for 39.54 million shares worth N258.84 million. Sterling Bank exchanged 36.71 million shares valued at N80.34 million, while Access Bank sold 12 million shares worth N111.2 million.

International Breweries traded 10.39 million shares valued at N290.83 million, while Guaranty Trust Bank sold 8.91 million shares worth N268.73 million.

In all, investors exchanged a total of 201.067 million shares worth N2.443 billion in 5,392 deals. This was against the 296.098 million shares valued at N6.49 billion traded in 6,034 deals on Tuesday.