NSE moves 131.43m shares worth N1.40bn in bearish trading

Investors at the Nigerian Stock Exchange (NSE) on Wednesday traded a total of 131.43 million shares valued at N1.40 billion exchanged in 2,786 deals, our correspondent reports.

It was reported that this was against 143.708 million shares worth N1.67 billion traded in 3,457 deals on Tuesday.

The Financial Service Sector remained the toast of investors as Zenith Bank emerged the most traded in volume terms, accounting for 27.93 million shares valued at N606.59 million.

Sterling Bank came second with a total of 25.01 million shares worth N58.72 million, while Access Bank sold 16.19 million shares valued at N104.11 million.

UBA trailed with 11.40 million shares worth N88.53 million and investors staked N14.44 million on 7.42 million shares of FCMB.

It was reported that the market indicators closed lower dropping by 0.67 per cent due to price losses sustained by some highly capitalised equities.

The market capitalisation depreciated 79 billion or 0.67 per cent to close at N11.592 trillion compared with N11.671 trillion recorded on Tuesday.

Similarly, the All-Share Index which opened at 31,038.86 depreciated by 209.41 points to close at 30,829.45.

Seplat topped the losers’ chart, dropping by N510 to close at N540 per share.

Stanbic IBTC and Presco trailed with a loss of N2.5 each to close at N46 and N62 per share respectively.

Guinness also lost N1.55 to close at N62.45 and GTB dropped N1.4 to close at N36 per share.

Conversely, Okomu oil led the gainers’ table, growing by N1 to close at N80 per share.

Cadbury followed with a gain of 0.35k to close at N11.2, while Zenith bank gained 0.3k to close at N22 per share.

UBN appreciated by 0.22k to close at N7.1 and Cutix increased by 0.18k to close at N2.03 per share.