NSE market indicators dip by 3.85 per cent

The Nigerian Stock Exchange market indicators on Wednesday dipped further by 3.85 per cent, following sustained investors’ profit taking that characterised activities at the beginning of every year.

The News Agency of Nigeria reports that the All-Share Index declined by 1149.25 points to close at 28,740.61 points against 29,889.86 points posted on Tuesday.

The market capitalisation, which opened at N9.895 trillion, lost N381 billion or 3.85 per cent to close at N9.514 trillion, due to price losses by some highly capitalised companies.

Dangote Cement led the losers’ chart with N15.3 to close at N3151.1 per share.

Seplat share price fell by N3.96 to close at N301.11, while Julius Berger lost N2.46 to close at N44.49 per share.

Guinness dipped by N1.98 to close at N128, while Ashaka Cement lost N1.88 to close at N20.45 per share.

On the other hand, Forte Oil topped the gainers’ chart, gaining N4.49 to close at N227 per share.

Presco garnered N2.7 to close at N29.7, while PZ Cussons rose by N2.52 to close at N27.21 per share.

Betaglas share price gained N1.4 to close at N30 while UnionDicon appreciated by 66k to close at N13.92 per share.

NAN reports that Mbenefit emerged the most traded stock, accounting for 102.95 million shares worth N51.48 million.

Zenith Bank followed with a turnover of 51.38 million shares, valued N807.33 million, while Multiverse sold 42 million shares worth N21 million.

In all, 488.623 million shares valued at N3.82 billion were traded by investors in 5,151 deals against the 307.911 million shares worth N3.11 billion traded in 5,149 deals on Tuesday.