NSE market indices on Wednesday extend losses by 0.46%

The Nigerian Stock Exchange (NSE) on Wednesday, for three days running, extended losses, dropping by 0.46 per cent, amid profit taking.

Our correspondent reports that the All-Share Index dropped further by 190.93 points or 0.46 per cent to close at 41,495.43 against 41,686.36 recorded on Tuesday.

Also, the market capitalisation, which opened at N14.912 trillion, dipped N68 billion or 0.46 per cent to close at N14.844 trillion.

NAN reports that the market failed to react positively to the audited results being released in the market, which analysts attributed to unstable economic environment.

Some blue chips posted price loses and this was led by Nestle with a loss of N30 to close N1.50 per share.

Lafarge Africa trailed with N3.30 to close at N47.05, while Stanbic IBTC declined by N2.15 to close at N46 per share.

Cadbury shed N1.35 to close at N12.65, while Nigerian Breweries was down by N1.20 to close at N126 per share.

Conversely, Guinness led the gainers’ table for the day, gaining N4.80 to close at N105 per share.

GlaxosmithKline followed with a gain of N1.05 to close at N22.05, while Dangote Flour appreciated by 75k to close at N15.75 per share.

The Cement Company of Northern Nigeria added 50k to close at N18.75, while NASCON Allied also gained 50k to close at N20.50 per share.

The volume of shares traded closed higher with a total of 488.97 million shares worth N5.64 million transacted in 5,524 deals.

This was against the 409.21 million shares valued at N3.92 billion shares sold in 4,996 deals on Tuesday.

Africa Insurance remained the most traded, accounting for 82.77 million shares worth N20.37 million.

Japaul Oil and Maritime followed with 75.55 million shares valued at N42.28 million, while Fidelity Bank sold 63.88 million shares worth N151.42 million.

Zenith Bank exchanged 29.59 million shares valued at N837.67 million, while FBN Holdings traded 28.78 million shares worth N344 .34 million.