Trading on NSE closes red on Wednesday as index down by 0.20%

Trading activities on the Nigerian Stock Exchange (NSE) closed negative on Wednesday with the All-Share Index dropping by 0.21 per cent.

The index closed lower at 38,187.28 compared to 38,264.75 achieved on Tuesday, indicating a loss of 77.47 points or 0.21 per cent even as the market capitalisation which opened at N13.617 trillion shed N28 billion or 0.21 per cent to close at N13.589 trillion.

An analysis of the price movement table showed that Mobil Oil topped the losers’ chart for the day, dropping by N17.80 to close at N176.80 per share with Dangote Cement trailed with a loss of N7 to close at N223, while Presco was down by N2 to close 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 added 47k to close at N16.74 per share.

However, 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 in contrast to 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.