NSE Index Sustains Bearish Run, Down 0.72% | Independent Newspapers Limited
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NSE Index Sustains Bearish Run, Down 0.72%

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Posted: Nov 10, 2016 at 3:30 am   /   by   /   comments (0)

 

Bamidele Ogunwusi

 

Lagos – The bearish run that had characterised trading on the floor of The Nigerian Stock Exchange (NSE) continued on Wednesday when the twin market indicators, the All Share Index and market capitalisation went down by 0.72 percent each.

The All Share Index closed at 26,173.69 points after it depreciated by 190.58 basis points or 0.72 per cent from 26,364.27 it closed on Tuesday, while market capitalisation went down by N65.605 billion to close at N9.010 trillion.

PZ Cussons Nigeria led the laggards’ table at the close of trading on Wednesday when it went down by 151 kobo to close at N16.49 per share, followed by Flour Mills of Nigeria which shed 95 kobo to close at N18.05 per share, GlaxoSmithKline Consumer and Guaranty Trust Bank both dropped 75 kobo to close at N15.00 and N20.65 per share, respectively, while Nigerian Breweries declined by 50 kobo to close trading at N143.50 per share, among others.

Just like it did on Tuesday, breweries’ major, Guinness Nigeria, led the gainers’ table when it added 150 kobo to close at N90.00 per share, followed by Chemical and Allied Products which grabbed 138 kobo to close at N35.40 per share, while Dangote Sugar Refinery  gained 18 kobo to close at N6.30 per share. Red Star Express nicked 10 kobo to close at N4.30 per share, while University Press also increased by 10 kobo to close at N3.90 per share, among others.

Information communication Technology company CHAMS, emerged the most traded equity on Wednesday with an exchange of 40.100 million shares worth N20.050 million.  It was trailed by Guaranty Trust Bank having accounted for 18.337 million shares valued at N378.708 million, while United Bank for Africa recorded 14.081 million shares worth N59.589 million; FBN Holdings  exchanged 13.944 million shares valued at N42.304 million while Access Bank traded 7.526 million shares worth N39.094 million.