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Market transactions drop on NSE

29 November 2013, 10:34

Lagos - Activities on the Nigerian Stock Exchange (NSE) on Thursday closed on a downward trend with the volume of shares traded dropping by 30.16 per cent.

The News Agency of Nigeria (NAN) reports that investors staked N2.58 billion on 252.65 million shares in 4 717 deals.

This was against a turnover of 361.78 million shares worth N4.76 billion exchanged by investors in 4 761 deals on Wednesday.

Wapic Insurance was the toast of investors, accounting for 55.65 million shares valued at N55.09 million.

ETI came second on the activity chart with 41.97 million shares worth N633.77 million, while Zenith Bank sold 13.69 million shares valued at N290.41 million.

Oando accounted for 12.99 million shares worth N183.20 million, while. FBN Holdings recorded a turnover of 10.23 million shares valued at N164.42 million.

The market indices declined by 0.21 per cent as a result of losses posted by some highly capitalised stocks.

NAN reports that the market capitalisation lost N26 billion or 0.21 per cent to close lower at N12.451 trillion against the N12.477 trillion recorded on Wednesday.

The NSE All-Share Index lost 82.66 basis points or 0.21 per cent to close at 38 929.65 compared with 39 011.31 achieved on Wednesday.

Market analysts attributed the lull in the market to the ongoing retreat of Capital Market Committee in Abuja being attended by many market operators.

Forte Oil led the losers' chart, dropping N5.72 to close at N108.73 per share.

It was followed by UACN with a loss of N2 to close at N64, while GlaxosmithKline lost N1 to close at N65 per share.

UPDC REITs declined by 50k to close at N10, while Transcorp went down by 41k to close at N3.93 per share.

NAN reports that Cadbury recorded the highest gain for the day, appreciating by N3 to close at N62.85 per share.

PZ Cussons trailed with a gain of N1.40 to close at N37.50, while Nigerian Breweries appreciated by 50k to close at N168 per share.

Jos Breweries gained 35k to close at N3.92, while Dangote Sugar grew by 31k to close at N11.30 per share.

-  NAN


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