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NSE Index Dips Further By 0.95%

Nigerian Stock Exchange NSE

By Modupe Gbadeyanka

Activities on the Nigerian Stock Exchange (NSE) on Wednesday continued on a negative note with the all-share index dropping further by 268.53 basis points or 0.95 percent.

The ASI had opened at 28,277.93 points at the beginning of trading on Wednesday, but it finished at 28,009.40.

In the same vein, the market capitalisation, which opened at N9.712 trillion, fell by N92 billion or 0.95 percent to close at N9.620 trillion

At the close of activities on the NSE on Wednesday, October 5, 2016, a total of 187.1 million shares valued at N1.472 billion were exchanged in 3,132 deals.

Access Bank shares were the most traded on Wednesday exchanging 29.96 million worth N164.49 million.

It was closely followed by FCMB Group, which traded 26.61 million shares valued at N30.76 million.

An analysis of the top losers on the NSE today showed Forte Oil leading after it fell by N7.40 to close at N158.50 per share.

PZ Industries followed, dipping N2.10 to finish at N18.69, Dangote Cement lost N1.99 to close at N181.01 per share, Unilever declined by N1.10 to end at N45.90, while Flour Mills slumped by N1.05 to close at N20.05 per share.

A look at the gainers’ chart indicated that 7up grew by N6.80 to close at N145.80 per share, while Okomu Oil added N1.90 to close at N39.90, Transcorp Hotel picked 25k to finish at N5.28 per share, Dangote Sugar appreciated by 15k to close at N6.50, while Oando climbed by 13k to finish at N5.60 per share.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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