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Trading closes on bearish note

07 March 2014, 15:15

Lagos - Activities on the Nigerian Stock Exchange (NSE) closed lower on Thursday as transactions dropped both in value and volume terms.

The value of shares traded dropped by 21.64 percent, whiles the volume of shares declined by 61.84 percent.

A total of 337.464 million shares valued at N3.51 billion were traded in 4 258 deals.

This was against the 884.273 million shares worth N4.48 billion traded in 4 956 deals on Wednesday.

The market indicators dropped by 0.47 percent as a result of profit taking.

The market capitalisation declined by N59 billion to close at N12.509 trillion against N12.568 trillion posted on Wednesday following price losses.

Similarly, the All-Share Index, which opened at 39 127.41 lost 182.79 points or 0.47 percent to close at 38 944.62.

Flour Mill recorded the highest price loss, shedding N5.30 to close at N76 per share.

Nigerian Breweries trailed with a loss of N2.47 to close at N146.42, while Presco dipped by N2 to close at N44 per share.

Dangote Cement dropped N1 to close at N237, while UAC-Property dropped 89k to close at N21.06 per share.

Conversely, Forte Oil led the gainers' chart, advancing by N5.99 to close at N94.39 per share.

Lafarge Wapco followed with a gain of 71k to close at N110.01, while GTB gained 35k to close at N25 per share.

Eterna rose by 16k to close at N4.10, while Maybaker grew by 10k to close at N2.14 per share.

The banking stocks remained the toast of investors as Zenith Bank emerged the most traded equity with 47.13 million shares valued at N1.01 billion in 221 deals.

FCMB came second on the activity chart, accounting for 38.05 million shares worth N131.27 million in 54 deals.

Access Bank sold 36.02 million shares valued at N266.35 million in 254 deals.

Transcorp traded 28.50 million shares worth N112.62 million in 239 deals.

-    NAN

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