Investors wealth shrink further by N85bn

Factual Pursuit of Truth for Progress

Trading activities on Wednesday sustsined declining profile at the Nigerian Stoc Exvhange (NSE), shedding N85 billion.
Specifically, market capitalisation of listed equities declined by 0.70 per cent to N12.024 trillion from N12.109 trillion traded the previous day. 
The NSE All share Index depreciated by 229.58 basis points to 32244.24 points from 32473.82 point recorded on Tuesday. 
The nation’s equity market had loss N170 billion or 1.39 per cent between Monday and Wednesday after presidential and National Assembly election .The index which closed on Monday at 32700.12 points sheds 455.88 basis points as at close of trading on Wednesady. 
The trading result on Wednesday showed that Investors traded a turnover of 456.070 million shares worth N2.678 billion in 5416 deals against 322.180 million shares valued at N2.434 billion in 4066 deals.

A financial analysts attributed the decline in share price of equities to profit taking embarked by investors. They said that most investors expectation of having a new government was dashed with the release of the presidential election results.
A break down of investment during the day showed that PZ cusson led gainers table during the day, gaining N1.15 kobo to close at N13.45 kobo, Julius Berger followed with a gain of N1.00 to close at N27.50 kobo Union Bank of Nigeria gained N0.30 kobo to close at N6.95 kobo, Nascon added N0.30 kobo to close at N19.20 kobo while NPF Microfinance Bank increased by N0.13 kobo to close at N1.62 kobo.

On the contrary, Nestle Nigeria Plc recorded the highest loss during the day, declining N10.00 to close at  N1500, Unilever Nigeria Plc trailed with a loss of N2.00 to close at 41.00, Zenith Bank Plc sheds N0.90 kobo to close at N24.90 kobo. Oando Plc fell by N0.70 kobo to close at N6.55 kobo while Dangote Sugar Refinary Plc depreciated by N0.40 kobo to close at N15.00.
The result further showed that Diamond Bank Plc was the most active stock during the day, transacting 186.429 million shares worth N466.652 million, Fidelity Bank Plc followed with account of 45.066 million shares valued at N106.179 million, Access Bank traded 33.050 million shares cost N204.703 million , Transnational Corporation of Nigeria (Transcorp) sold a total of 23.509 million shares worth N32.049 million while United Bank for Africa traded 20.890 million shares cost N166.437 million.

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