NSE Index Drops 0.01% on Reversed Rally

Equities trading at the Nigerian Stock Exchange, NSE, on Wednesday, February 22, halted previous gains recorded on the bourse, with lead market indices crashing.

As such, the All share Index and the Market Capitalization depreciated by 0.01 percent each to close at 25,249.74 basis points and N8.738 trillion. The All Share Index dipped by 1.89 points from Tuesday’s 25,251.63 points, while Market Capitalization dropped N655.9 billion from N8.739 trillion

Market breadth closed red with 19 losers paired against 8 advancers. Guinness Nigeria led the day’s advancers with a 4.59 percent growth in share price closing at N64.88 per share.

Nigerian Breweries another consumer goods company was next on the gainers list with a growth of 3.99 percent to close at N129.99 while NEM added 2.53 percent to close at 81 kobo.

Oando and Nigerian Police Force Micro Finance Bank came fourth and fifth respectively with an appreciation of 2.27 and 1.85 percent to close at N4.95 and N1.10 per share respectively.

Conversely, Unilever led the day’s decliners with a loss of 4.98 percent to close at N30.69, followed by UACN, which shed 4.89 percent to close at N12.65, United Capital dropped 4.86 percent to close at N3.52.

Continental Insurance fell 4.59 percent to close at N1.04 and UAC-Prop depreciated 4.52 percent to close at N1.90 per share

Zenith Bank emerged the day’s most traded equity with an exchange of 42.0 million shares worth N621.8 billion. It was trailed by United Capital that accounted for approximately 14.1 million shares valued at N50.2 million.

Fidelity recorded the sale of 8.9 million shares worth N7.4 million; Transcorp exchanged 6.7 million shares valued at N4.9 million while Diamond Bank traded 6.3 million shares worth N5.4 million.