NSE’s Index Drops 1.37% On Sell Offs

NSE’s Index Drops 1.37% On Sell Offs

Oladejo Amos
Trading in equities continued on a negative note on the Nigerian Stock Exchange on Wednesday, as more investors sold their holdings.
Specifically, the All Share Index depreciated 1.37 per cent to close at 27,098.18 points, compared to the decline of 0.45 per cent recorded the preceding day to close at 27,475.48 points.
Market capitalization N130 billion to close at N9.306 trillion, higher than the drop of N43 billion recorded the preceding day to close at N9.436 trillion.
Unity Bank Plc led the gainers’ table with 10 kobo or 10 per cent to close at N1.10 per share, followed by Oando Plc with 53 kobo or 7.89 per cent to close at N7.25 per share.
Forte Oil Plc added N9.80 or five per cent to close at N205.80 per share, while Flour Mills Plc rose N1.06 or 4.98 per cent to close at N22.36 per share.
NEM Insurance Plc gained four kobo or 4.76 per cent to close at 88 kobo per share, while Neimeth International Plc was up four kobo or 4.65 per cent to close at 90 kobo per share.
On the flip side, Dangote Sugar Plc depreciated 47 kobo or 6.91 per cent to close at N6.33 per share, while Cap Plc dropped N1.88 or 4.95 per cent to close at N36.12 per share.
Air Service Plc shed nine kobo or 4.92 per cent to close at N1.74 per share, while Portland Paints Plc fell 10 kobo or 4.88 per cent to close at N1.95 per share.
Nigerian Breweries Plc declined N6.52 or 4.78 per cent to close at N130.01 per share, while Union Homes Plc was down 15 kobo or 4.73 per cent to close at N3.02 per share.
A total of 261.0 million shares valued at N1.22 billion were exchanged in 3, 591 deals.