NSE: Investors lose N38bn as market enters third day of loss-making

The equity section of the Nigerian Stock Exchange (NSE) ended Wednesday’s trade in the negative territory as profit-taking efforts intensified, with investors dumping big volumes of shares for sale.

Zenith Bank, Unilever and Okomu Oil were accounted most for the day’s loss, given that sell pressure on the stocks were high.

On the supply said, turnover was 11.40% higher, driven by trade activities in the shares of Zenith, FBN Holdings and UBA.

The market posted a negative breadth, with 23 losers emerged against 7 gainers.

The All Share Index (ASI) was down by 0.28% to 25,424.91 basis points. Market capitalisation inched low to N13.264 trillion, N38 billion weaker than the previous close.

Year to date, the index is down by 5.28%.

TOP 5 GAINERS

Fidson led gainers, appreciating by 7.28% to close at N3.98. PZ added up 6.25% to end the day’s trade at N4.25. Custodian advanced by 3.12% to N4.95. FCMB rose to N2.26, notching up 2.73% in the process. John Holt completed the top 5, climbing up by 1.82% to N0.56.

TOP 5 LOSERS

Royal Exchange topped the losers’ chart, declining by 10% to close at N0.27. Livestock shed 9.09% to end trade at N0.60. C&I Leasing fell to N3.55, losing 8.97%. Mutual Benefits slumped to N0.20, recording 4.76% depreciation. UACN closed at N6, going down by 4.76%.