Market dips 0.9% as Seplat tops gainers

Transactions on the Nigerian Stock Exchange (NSE) on Wednesday returned negative on investors’ low appetite for stocks with the benchmark indices declining by 0.9 per cent amid massive sell off.

Specifically, the Market Capitalisation shed N8 billion or 0.9 per cent to close at N8.11 trillion as against N8.19 trillion recorded on Tuesday.

Similarly, the All-Share Index lost 228.98 points or 0.9 percent to close lower at 23,605.89 compared with 23,834.87 achieved the preceding day.

An analysis of the price movement table indicated that Nigerian Breweries Plc led the losers’ pack with a loss of N4.25 or 4.27 per cent to close at N95.25 per share.

Unilever Plc followed with N1.67 or 4.99 per cent to close at N31.81 per share, while Guaranty Trust Bank Plc trailed with a loss of 84 kobo or 5.13 per cent to close at N15.54 per share.

Zenith Bank Plc declined by 71 kobo or 5.22 per cent to close at N12.90, while UACN Plc dipped by 70 kobo or 3.50 per cent to close at N19.30 per share.

On the other hand, Seplat Plc led the gainers’ table, increasing by N21.94 or 10.25 per cent to close at N236.09 per share.

Seven Up Plc was up N9.95 or 5.62 per cent to close at N186.95 per share, while Guinness Nigeria Plc added N5.56 or five per cent to close at N116.76 per share.

Flourmills Plc increased by N1.83 or 10.14 per cent to close at N19.88 per share, International Breweries Plc added N1.02 or 6.07 per cent to close at N17.82 per share.

Further analysis showed that Wema Bank Plc recorded the highest volume, exchanging 1.13 million shares worth N1.91 million.

FBN Holdings Plc followed with 35.58 million shares valued at N141.15million, while Guaranty Trust Bank Plc sold 27.89 million shares worth N422.14 million.

Zenith Bank Plc exchanged 24.23 million shares valued at N320.18 million, while Transcorp Plc sold 12.57 million shares at N14.53 million.

In all, investors spent N2.91 billion on 1.31 units of shares in 4,012 deals.