NSE trading closes on negative trend, index down by 0.20%

Trading on the Nigerian Stock Exchange (NSE) on Wednesday recorded low gain, with the All-Share Index dropping by 0.21 per cent.

The News of Nigeria (NAN) reports index closed lower at 38,187.28 compared to 38,264.75 achieved on Tuesday, indicating a loss of 77.47 points 0.21 per cent.

In the same vein, the market capitalisation which opened at 13.617 trillion shed 28 billion 0.21 per cent to at 13.589 trillion.

An analysis of the price movement table showed that Mobil Oil topped the losers’ chart for the day, dropping by 17.80 to at N176.80 per share.

Dangote Cement trailed with a loss of N7 to at N223, while Presco was down by N2 to at N66.50 per share.

Cadbury depreciated by 65k to close at N14.95, while Unilever declined by 35k to close at N39.86 per share.

On the other hand, Lafarge Africa recorded the highest price gain to lead the gainers’ table, increasing by N2.21 to close at N47.10 per share.

Dangote Sugar Refinery followed with a gain of N1.51 to close at N21.87, while Dangote Flour grew by 60k to close at N12.75 per share.

NASCON added 58k to close at N19.80, while Ecobank Transnational increased by 47k to close at N16.74 per share.

In spite of the drop in market indices, the volume of shares traded closed upbeat by 137.21 per cent with a turnover of 589.58 million shares valued at N2.12 billion in 4,366 deals.

This was in contrast with a total of 248.55 million shares worth N1.78 billion traded in 3,035 deals on Tuesday.

Skye Bank was the most active stock during the day, exchanging 190.02 million shares valued at N101.73 million.

Transnational Corporation of Nigeria followed with an account of 93.42 million shares worth N144.62 million, while Diamond Bank traded 79.38 million shares valued at N136.32 million.

FCMB Group sold 61.15 million shares worth N105.49 million, while Fidelity Bank sold 21.65 million shares valued at N60.55 million. (NAN)