The All-Share Index of the Nigerian Stock Exchange (NSE) on Tuesday maintained a negative slide, dropping further by 0.28 per cent in spite of the 2017 budget approval.
The News Agency of Nigeria (NAN) reports that the index lost 93.43 points or 0.28 per cent to close at 33,141.85 compared with 33,235.28 posted on Monday . Similarly, the market capitalisation shed N29 billion to close at N11.460 trillion against N11.489 trillion achieved on Monday due to sell pressure. Nestle, for the second consecutive day, led the losers’ chart, dropping by N24 to close at N900 per share. Mobil Oil trailed with a loss of N9.35 to close at N276.51 and Seplat declined by N6.38 to close at N460.01 per share.
Forte Oil was down by N6.14 to close at N58, while Conoil depreciated by N1.50 to close at N38 per share. On the other hand, Total led the gainers’ table , increasing by N11.55 to close at N282.55 per share. 7UP followed with a gain of N4.50 to close at N94.50 and Presco gained N3.65 to close at N66.15 per share. Unilever appreciated by N1.45 to close at N37, while UACN grew by 60k to close at N18 per share. Zenith Bank was the toast of investors, accounting for 62.30 million shares worth N1.29 billion. Transcorp came second with an exchange of 49.20 million shares valued at N89.41 million, while FCMB Group traded 41.46 million shares worth N59.03 million. Diamond Bank sold 38.54 million shares valued at N54.45 million and FBN Holdings traded 25.59 million shares worth N72.77 million.
In all, the volume of shares traded dropped by 18.13 per cent with a total of 410.22 million shares valued at N5.55 billion, against 501.08 million shares worth N6.11billion traded in 6, 635 on Monday.
By Chinyere Joel-Nwokeoma