NSE market indices dips 0.65%, amid Nestle N112 loss

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The market indicators of the Nigerian Stock Exchange (NSE) on Friday declined by 0.65 per cent, amid loss posted by Nestle.

Specifically, the All-Share Index which opened at 27,568.91 shed 180.29 points or 0.65 per cent to close at 27,388.62.

Similarly, the Market Capitalisation lost N94 billion or 0.65 per cent to close at N14.268 trillion from N14.362 trillion posted on Thursday.

A breakdown of the price movement chart indicates that Nestle topped the losers’ chart, dropping by N112 to close at N1,113 per share.

Nigerian Breweries came second with N3.05 to close at N48.45, while UACN was down by 60k to close at N8.40 per share.

Access Bank dipped 30k to close at N9.40, while SAHCO shares declined by 29k to close at N2.62 per share.

On the other hand, Julius Berger led the gainers’ table with N1.50 to close at N24 per share.

United Bank for Africa garnered 50k to close at N7.50, while Zenith Bank gained 45k to close at N19.85 per share.

BUA Cement improved by 40k to close at N36.45, while Custodian and Investment added 20k to close at N5.65 per share.

In spite of the drop in market indices, the volume of shares traded closed higher as investors bought and sold 421.28 million shares valued at N5.55 billion in 4,423 deals.

This was in contrast to 484.99 million shares worth N3.59 billion achieved in 4,187 deals on Thursday.

Zenith Bank was the most active, trading 112.48 million shares valued at N2.24 billion.

United Capital sold 64.84 million shares worth N231.25 million, while FCMB Group traded 59.75 million shares valued at N113.53 million.

Flour Mills exchanged 50.08 million shares worth N1.15 billion, while United Bank for Africa sold 34.84 million shares valued at N261.59 million.


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