NSE market indices drop further by 0.58%

The market indicators of the Nigerian Stock Exchange (NSE) on Wednesday dropped further by 0.58 per cent, due to profit taking.

The News Agency of Nigeria (NAN) reports that the market capitalisation shed N50 billion to close at N8.715 trillion, against N8.765 trillion on Tuesday.

Also, the All- Share Index lost 145.98 points or 0. 58 per cent to close at 25,183.10 compared with 25,329.08 achieved on Tuesday.

Seplat led the gainers’ table for the day, growing by N12 to close at N400 per share.

Vitafoam followed with a gain of 8k to close at N1.80 and NPF Microfinance Bank gained 5k to close at N1.17 per share.

NAHCO also gained 5k to close at N2.50, while NEM insurance appreciated by 2k to close at 83k per share.

On the other hand, Guinness topped the losers’ chart, dropping by N3.24 to close at N62.11 per share.

Nigerian Breweries trailed with a loss of N2.38 to close at N126.82 and Cadbury depreciated by 75k to close at N7.80 per share.

Zenith Bank lost 70k to close at N14 and Forte Oil shed 68k to close at N47.01 per share.

NAN reports that Zenith Bank drove the activity chart, exchanging 81.71 million shares worth N1.18 billion.

United Bank for Africa traded 27.71 million shares valued at N135.80 million and United Capital exchanged 22.62 million shares worth N78.69 million.

NEM Insurance sold 16.57 million shares valued at N13.42 million, while Guaranty Trust Bank traded 12.66 million shares worth N312.73 million.

In all, investors bought and sold 444.50 million shares valued at N3.65 billion exchanged in 3,336 deals.

This was in contrast with a turnover of 228.02 million shares worth N2.39 billion transacted by investors in 2,958 deals on Tuesday