NSE Closes in the Red on Wednesday, Investors Lose N9.14bn

• NSE Closes in the Red on Wednesday, Investors Lose N9.14bn

The Nigerian Stock Exchange closed in the red on Wednesday as weak sentiment persists amid sell pressure.

The market capitalisation of listed equities declined by 0.06 percent or N9.14 billion from N14.35 trillion on Tuesday to close at N14.348 trillion on Wednesday.

While the NSE All-Share Index dipped by 0.09 percent to 27,523.08 basis points, down from 27,546.56 bps it closed on Tuesday.

United Capital led top gainers with 9.9 percent profit to close at N3.22 per share. This was after the company reported N4.97 billion profit and declared a dividend of 50 kobo per 50 kobo ordinary share for the 2019 financial year.

Closely trailed by African Prudential Plc with 9.87 percent gain while AIICO Insurance gained 9.76 percent to close at N0.9. C & I Leasing and Unity Bank Plc gained 9.48 percent and 9.26 percent to close at N6.35 and N0.59, respectively.

AXA Mansard Insurance led top losers with a 10 percent decline to close at N1.8, followed by a 9.97 percent decline from Forte Oil Plc to N16.7. Custodian Investment Plc, NCR Plc, and Law Union Insurance Plc recorded 9.92 percent, 9.4 percent and 9.09 percent decrease to close the day at N5.45, N2.7 and N0.9, respectively.

In terms of volume traded, GTBank led with 79.35 million units of shares worth N2.26 billion exchanged in 233 transactions. Zenith Bank came second with 39.99 million shares valued at N780.85 million traded in 553 deals.