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NSE Index Sheds 0.72% As 27 Stocks Crash

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By Modupe Gbadeyanka

A total of 27 companies listed on the Nigerian Stock Exchange (NSE) recorded various declines in value of their shares on Wednesday as the downward trend at the capital market continued.

However, only 11 stocks appreciated today, while seven retained the price they closed with the previous day.

On the losers’ chart, PZ lead the pack with a crash of N1.51k to close at N16.49k per share, Flour Mill depreciated by 95k to finish at N18.5k per share, GlaxoSmithKline fell by 75k to finish at N15 per share, GTBank also collapsed by 75k to close at N20.65k per share, while Nigerian Breweries declined by 50k to end at N143.50k per share.

At the capital market today, the major indicator weakened by 0.72 percent with the all-share index dipping by 190.58 basis points or 0.72 percent to close at 26,173.69 basis points, while the market capitalisation sapped by N65.6 billion to finish at N9.01 trillion.

Investors traded 146.1 million shares on Wednesday in 3,039 deals valued at N1.03 billion. This is in sharp contrast to 189 million shares in 3,434 deals valued at N1.6 billion sold on Tuesday.

However, despite the bad fortunes recorded at the NSE today, Guinness gained N1.50k to top the gainers’ log, closing at N90 per share.

It was also the same sweet story for CAP Plc, which appreciated by N1.38k to finish at N35.40k per share and Dangote Sugar, which picked 18k to close at N6.30k per share.

Red Star Express Plc chalked up 10k to end at N4.30k per share and University Press Plc ascended by 10k to close at N3.90k per share.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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