Stocks Shed N310bn As Profit Taking Hits Transactions On The Exchange

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LAGOS, JUNE 22, 2017 – Trading on the floor of The Nigerian Stock Exchange (NSE) on Wednesday closed bearish as value of listed equities depreciated significantly by 2.6 per cent

The All-Share Index shed 897.71 basis points or 2.6 per cent to close at 33,477.89 points from 34,375.60 points it opened for trading, while market capitalisation also depreciated by N310.5 billion, to close at N11.577 trillion from N11.887 trillion it closed on the previous day.

Nestle Nigeria led decliners’ table when it went down by N10.00 to close at N900.00 per share, it was followed by Dangote Cement which lost 897 kobo to close at N205.00 per share, 7Up Bottling Company dropped 299 kobo to close at N90.01 per share, Lafarge Cement Wapco slipped by 220 kobo to close at N52.00 per share, while Nigerian

Breweries depreciated by 200 kobo to close at N166.00 per share, among others.

On the other hand, Conoil led gainers table for the day when it added 192 kobo to close at N40.42 per share, it was trailed by Capital Properties which raked 79 kobo to close at N34.99 per share, Cement Company of Northern Nigeria gained 53 kobo to close at N11.27 per share, UAC of Nigeria grabbed 35 kobo to close at N17.9 per share, while National Salt Company of Nigeria recorded 20 kobo to close at N10.00 per share, among others.

Zenith Bank appeared the most traded equity Wednesday when it exchanged of 87.934 million shares worth N1.861 billion. Followed by Fidelity Bank having sold 55.396 million shares valued at N71.482 million, Guaranty Trust Bank exchanged 50.280 million shares valued atN1.796 billion; Diamond Bank recorded 45.632 million shares valued at N55.673 million while United Bank for Africa traded 40.453 million shares worth N336.848 million.

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