Bear Run Reverses Four-Day Growth as NSE Index Slides 1.09%

Trading activities on the Nigerian Stock Exchange, NSE, on Wednesday, March 23, resumed southward movement with the market indices plunging by 1.09 per cent, reversing the four-day growth.

The All-Share Index lost 283.40 points or 1.09 per cent to close at 25,736.92, compared with the 26,020.32 recorded on Tuesday, March 22.

The plunge was attributed to the value depreciation recorded in the stocks of FBN Holdings, Total Nigeria, Mobil, Zenith Bank, Dangote Cement, GT Bank and Lafarge Africa.

Mobil Oil recorded the highest loss, to lead the losers’ chart with a loss of N7.54, to close at N154.91 per share.
Total trailed with N7.49 to close at N142.46, while Dangote Cement depreciated by N4 to close at N164 per share.
Guinness lost N3.07 to close at N108.93 and Seplat dropped by N3 to close at N308 per share.

Conversely, Nigerian Breweries led the gainers’ table, increasing by N4.41 to close at N113.61 per share.
Vitafoam followed with a gain of 20k to close at N4.30, while NAHCO gained 19k to close at N3,99 per share.

Oando increased by 9k to close at N4 and Fidelity Bank appreciated by 6k to close at N1.40 per share.
United Capital emerged the most active stock, exchanging 95.96 million shares worth N199.62 million.

Access Bank followed with an exchange of 60.75 million shares valued at N239.84 million and Multitrex traded 40 million shares worth N20 million.

The FCMB Group sold 38.13 million shares worth N29 million and Zenith Bank transacted 28.68 million shares valued at N356.49 million.

In all, a total of 398.28 million shares worth N2.65 billion were exchanged by investors in 3,581 deals.
NAN reports that this was against the 344.12 million shares valued at N2.46 billion traded in 4,386 deals on Tuesday. (NAN)