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Market Digest Nigeria

Finance

Nigerian stock market (NSE) remains in bearish zone

Nigeria’s stock market (NSE)bearish run continues. Daar Comm, Wema Bank among top losers.

nse

The Nigerian stock market (NSE) remained in bearish zone for the second consecutive day after the equity capitalization dipped further at the close of trading on Wednesday.

The equity capitalization dropped from N20.54 trillion to N20.42 trillion on the day. The All- Share Index dipped by 0.57 percent to drop from 39, 267.11 to 39,045.13 at the close of business on Wednesday.

Investors traded 347.17 million shares valued at N2.80 billion in 3,999 deals on Wednesday.

This showed that investors’ appetite reduced when compared to the 336.12 million shares worth N3.26 that exchanged hands in 4.394 deals the previous day.

Linkage Assurance topped the gainers’ list on Wednesday after its share price rose by 10 percent to move from N0.6kobo to N0.66kobo per share.

Prestige gained 9.76 percent during trading and increased its share price from N0.41kobo to N0.45kobo per share.

Meyer’s share price rose by 9.76 percent to end trading at N0.45kobo from N0.41kobo per share.

NEM’s share price increased by N0.2kobo and moved from N2.1kobo to N2.3kobo per share at the close of trading.

Guinness share price rose by N2.3kobo to end trade with N33.9kobo from N31.6kobo per share.

Daarcomm topped the losers’ chart after losing 8.70 percent during trading and slipped from N0.23 to N0.21kobo per share.

Wema Bank share price declined from N0.62kobo to N0.57kobo per share after shedding 8.06 percent in its share price during trading.

UPL share price plunged by 7.76 percent to end trading at N1.07kobo from N1.16kobo per share.

UAC Property share price declined from N0.83kobo to N0.77kobo per share after losing 7.23 percent in share price during trading.

Japaul Gold completed the list as its share price fell by 6.82 percent to end trading at N0.41kobo from N0.44kobo per share.

Wema Bank was the most active stock as investors traded 94.04 million shares worth N53.37 million.

Union Bank shares were traded at a volume of 78.90 million and valued at N418.21 million.

Zenith Bank was next with 22.13 million shares traded at a cost of N500.20 million.

First Bank reported 11.98 million shares worth N87.14 million, while GTBank recorded over 10.71 million traded shares at a value of N352.66 million.

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