Equities reverts to lost streak, dip by 0.1%

Trading in equities reversed its three-day gaining streak on the Nigerian Stock Exchange (NSE) Wednesday, as loses in industrial and oil and gas stocks deflated the benchmark indices to close lower.

Specifically, the All-Share Index declined by 46.98 points to close at 26,871.24 absolute points as against 26,918.22 points on Tuesday.

The Market Capitalization dipped by N17 billion to close at N9.238 trillion, in contrast to N9.255 trillion recorded the preceding day.

At the close of trading for the day, 14 stocks recorded value depreciation, while 22 others constituted gainers table.

Nigerian Breweries was the biggest loser with N6.08 or 4.99 per cent loss to close at N115.72 per share.

PZ Plc followed with N1.41 or 4.98 percent to close at N26.90 per share, while Dangote Cement Plc dropped by 70 kobo or 0.46 percent to close at N152.30 per share.

Guinness Nigeria Plc declined by 50 kobo or 0.41 percent to close at N122.50 per share, while Ecobank Transnational Incorporated shed 21 kobo or 1.26 percent to close at N16.49 per share.

Despite the bearish outlook, Forte Oil Plc led the gainers table with N13.65 or 5.00 percent to close at N13.65 per share.

It was followed by Mobil Oil Plc with N12.80 or 9.83 percent to close at N143.00 per share, while Nestle Nigeria Plc added N10.00 or 1.72 percent to close at N800.00 per share.

West African Portland Cement Pc (WAPCO) was up by N2.80 or 2.98 percent to close at N76.80 per share.

Flourmills Plc appreciated by 75 kobo or 3.76 percent to close at N20.70 per share

A total of 149.87 million shares valued at N1.55 billion were exchanged in 3,255 deals.