Nigerian bourse down 0.20% on Wednesday on sell pressure

The market indices of Nigerian Stock Exchange (NSE) recorded 0.20 per cent loss on Wednesday following price loses by Nestle and Dangote Cement.
Specifically, the market capitalisation, which opened at N13.716 trillion, shed N27 billion or 0.20 per cent to close at N13.689 trillion even as the All-Share Index dipped by 56.13 points or 0.20 per cent to close at 28,088.74 from the 28,144.87 achieved on Tuesday.
Nestle recorded the highest price loss of N27 to close at N1,300 per share while Dangote Cement trailed with a loss of N3 to close at N171, while Total depreciated by N2.40 to close at N127.50 per share.
Lafarge Africa was down by 25k to close at N14.15, while Guaranty Trust Bank also shed 25k to close at N28.75 per share.
On the other hand, Seplat led the price gainers’ table, appreciating by N45 to close at N525 per share.
Nigerian Breweries followed with a gain of N3.90 to close at N60, while BoC Gases added 46k to close at N5.07 per share.
C & I Leasing rose by 45k to close at N5, while Access Bank advanced by 10k to close at N6.65 per share
In spite of the drop in market indices, the volume of shares traded grew by 16.73 per cent as investors exchanged 157.79 million shares valued at N2.52 billion in 3,253 deals.
These were in contrast with the 135.18 million shares worth N2.09 billion exchanged in 3,358 deals on Tuesday.
GTB was the most active stock, trading 33.59 million shares valued at N971.44 million.
UBA followed with 30.73 million shares worth N173.48 million, while Zenith Bank traded 22.89 million shares valued at N428.16 million.
Sterling Bank sold 11.44 million shares worth N26.053 million, while Transcorp accounted for 9.34 million shares valued at N9.41 million.