NSE ASI retracts further by 0.17%, sheds 44.48 basis points

Activities on the Nigerian Stock Exchange continued on a downward trend on Wednesday as the major indicator, the All Shares Index shrank by 44.48 basis points to close the day at 25,514.09 in contrast to 25,558.57 which it closed with on Tuesday.

Market capitalisation also dropped N15 billion, representing 17 percent loss to end the day with N8.82 trillion.

A total of 198.84 million shares valued at N2.53 billion transacted in 2,306 deals compared with 153.72 million shares worth N1.50 billion achieved in 2,675 deals on Tuesday.

Nestle Nigeria top the declining chart shedding N10 or 1.33 percent to close the day at N740. Total followed with a loss of N2.10 and closed with N272.90 having started the day at N275.

Unilever was among the top three losers as it shrank by 5 percent having lost N1.70 and closed with N32.30. It began the day with N34.

On the reverse side, Guinness Nigeria led the positive contributors as it added N2.61 to end the day with N62.64, it represents 4.34 percentage increase.

Julius Berger also improved by N1.95 and 4.87 percentage increase above its Tuesday figures of N40. It closed the day at N41.95. Cement makers, Lafarge gained N1.80 representing 5 percent increase to close with N37.80 having started the day with N36.

Again, banking sector dominated too traded stocks. UBA led the pack with 64.51 million shares valued at N343.48 million. This was followed by Guaranty Trust Bank with 29.44 million shares valued at N783.70 million.

Access Bank had 24.45 million shares valued at N151.50 million transacted on the floor on Wednesday to make the top three most traded stocks.