Market indices depreciates by 0.34%

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LAGOS, NOVEMBER 29, 2016 – The market indices of the Nigerian Stock Exchange (NSE) on Tuesday depreciated further by 0.34 per cent due to investors economic concerns.

The News Agency of Nigeria (NAN) reports that the All-Share Index lost 84.99 points or 0.34 per cent to close at 25,233.42 against 25,318.41 achieved on Monday.

Also, the market capitalisation which opened on N8.715 trillion shed N29 billion to close at N8.686 trillion.

NAN reports that Forte Oil for the second consecutive day topped the losers’ chart, dropping by N5.81 to close at N53.85 per share.

Dangote Cement came second with a loss of N1.99 to close at N155 and Transcorp Hotel dipped 27k to close at N5.24 per share.

Also, Dangote Sugar declined by 20k to close at N6, while Oando lost 19k to close at N3.61 per share.

Conversely, Mobil Oil led the gainers’ table, growing by N22.48 to close at N241.89 per share.

Total followed with a gain of N9.40 to close at N254.85 and the Nigerian Breweries garnered N1.99 to close at N143 per share.

International Breweries rose by 29k to close at N18.99 and UPL improved by 19k to close at N4.09 per share.

In spite of the drop recorded by market indicators, the volume of shares traded closed higher with an exchange of 511.58 million shares valued at N1.69 billion.

NAN reports that this was in contrast with a turnover of 202.43 million shares worth N1.62 billion transacted in 2,558 deals on Monday.

Wema Bank was the most traded equity with an exchange of 39.22 million shares valued at N181.31 million.

It was trailed by Diamond Bank having accounted for 63.57 million shares worth N57.51 million and FCMB Group sold 14.60 million valued at N15.03 million.

ETI accounted for 9.47 million shares worth N92.88 million and Wapic Insurance traded 6.93 million shares valued at N3.47 million.

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