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Stocks Record 0.02% Loss as International Breweries Sheds N2

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) marginally went down by 0.02 percent on Wednesday thanks to the losses recorded by blue-chip stocks.

This was despite the market breadth closing positive with 24 appreciating equities compared with the 18 depreciating shares.

International Breweries topped the losers’ chart after going down by N2 to settle for the day at N30 per share.

It was followed by PZ Cussons, which fell by N1 to close at N12.50k per share, and FBN Holdings, which went down by 25 kobo to end at N8.50k per share.

Axa Mansard dropped 22 kobo to settle at N2.06k per share, while UBA shed 20 kobo to finish at N7.50k per share.

Conversely, CCNN emerged the highest price gainer yesterday with N2.20k added to its share value to close at N24.80k per share.

Forte Oil gained N2 to finish at N22 per share, while Stanbic IBTC appreciated by 40 kobo to end at N42 per share.

Union Bank grew by 35 kobo to settle at N5.80k per share, while GTBank went up by 30 kobo to close at N34 per share.

Business Post reports that the volume of shares traded yesterday decreased by 29.45 percent from 269.8 million to 190.4 million, while the total value of stocks transacted went down by 33.17 percent from N2.7 billion to N1.8 billion.

Like the previous session, the Financial Services sector led the activity chart with 79.8 million shares exchanged for N843 million and was followed by the Services industry, which sold 61.3 million equities worth N301 million.

Red Star Express was the most traded stock at the market on Wednesday, selling a total of 60.3 million units worth N298.3 million.

It was followed by Zenith Bank, which traded 24.2 million equities valued at N500.3 million, and Oando, which exchanged 22.1 million units worth N112.6 million.

Transcorp traded 9.9 million equities valued at N12.2 million, while Fidelity Bank sold 6.3 million worth N10.4 million.

A look at the major market indices showed that the All-Share Index (ASI) decreased yesterday by 5.88 points to close at 32,375.12 points, while the market capitalisation reduced by N3 billion to settle at N11.819 trillion.

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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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