NSE Sustains Bearish Trend, Dips 0.22% On Wednesday

Forex Market
  • NSE Sustains Bearish Trend, Dips 0.22% On Wednesday

The Nigerian Stock Exchange (NSE) on Wednesday declined further as investors continue to let go of their positions amid growing uncertainty.

The market capitalisation of listed equities declined slightly by N26 billion from N14.08 trillion to N14.06 trillion.

While the NSE All-Share Index declined by 0.22 percent to close at 26,974.38 basis points as 16 stocks closed in the red with only 11 gainers.

Total shares of 228.38 million valued at N2.74 billion were traded during the trading hours of Wednesday.

Honey Well Flour led top gainers with 9.38 percent to close at N1.05, followed by FCMB with 6.29 percent to close at N1.86, while Ekocorp Plc, UBA, and Lasaco Assurance gained 5.77 percent, 4.38 percent and 4.17 percent to close at N5.5, N7.15 and N0.25, respectively.

Leading top losers’ chart was Redstar Express, Vitaform Nigeria Plc, University Press, Consolidated Hallmark Insurance and Jaiz bank with 9.98 percent, 9.98 percent, 9.6 percent, 9.38 percent and 8.62 percent to close at N3.61, N4.06, N1.13, N0.29 and N0.53.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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