Nigerian bourse extends negative run as Index drops 0.09%

The negative trend on Nigerian bourse continued on Wednesday as the All-Share Index dropped 0.09 per cent,translating to year-to-date drop of 2.7 per cent.

Profit-taking in the shares of Honeywell Flour, Nigerian Breweries, UACN and Dangote Sugar were majorly responsible for the market slide on Wednesday

The day trading transactions witnessed 18 losers and 8 gainers, even as the benchmark index shrank 25.43 basis points to 39,184.18, while Market Capitalisation closed at N20.4 trillion.

AIICO led gainers, appreciating by 4.04 per cent to close at N1.03. Custodian added 3.15 per cent to its opening price to close at trade at N6.55.

Chams went up by 6.25 per cent to close at N2.80. Fidelity added to N2.41, notching up 2.55 per cent. AIICO added 0.95 per cent to its opening price to close at N2.13.

On the other side, FTN Cocoa declined by 8.77 per cent to close at N0.52 to be closely followed by Morison which declined by 5.42 per cent to close at N1.92.