NSE transactions reopen on bearish trend

Equity transactions on the Nigerian Stock Exchange (NSE) reopened on Tuesday after the Independence Day holidays on a bearish trend as market indicators depreciated by 0.17 per cent.

Our correspondent reports that Stanbic IBTC led the losers’ table, dropping N3.5 to close at N42.5 per share.

CCNN followed with a loss of N2.1 to close at 23.2 while Guinness dipped N1.95 to close at N78.05 per share.

Nestle lost N1 to close at N1, 399 while Dangote Sugar decreased by 3k to close at N13.9 per share.

Consequently, the NSE All-Share depreciated by 54.72 points or 0.17 per cent to close at 32,711.65 against the 32,766.37 achieved on Sept. 28

Also, the market capitalisation, which opened at N11.962 trillion, dipped by N20 billion or 0.17 per cent to close at N11.942 trillion.

On the other hand, Forte Oil topped the gainers’ chat, gaining N1.35 to close at N21.4 per share.

Unilever came second on the gainers’ chart with N1 to close at N46, while Lafarge Wapco rose by 8k to close at N23 per share.

Glaxosmith gained 5k to close at N14.5 and FBN Holdings went up by 3K to close at N9.2 per share.

In all, a total of 184.59 million shares, valued at N3.39 billion were exchanged in 2,889 deals, representing a growth of 0.03 per cent in volume

This was against a turnover of 184.53 million shares worth N2.83 billion achieved in 2,296 deals on Friday.

FCMB emerged the most traded stock, accounting for 33.14 million shares, valued at N58.62 billion.

It was trailed by GTBank, which sold 29.87 million shares worth N1.09 billion, while Zenith Bank accounted for 15.57 million shares valued N334.48 million.

Fidelity Bank traded 14.54 million shares worth N25.88 million, while investors in UBA staked N115.29 million on 13.87 million shares.