Economy

Transactions close flat on NSE, amid cautious trading

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The key market indicators of the Nigerian Stock Exchange closed flat on Wednesday due to cautious trading.

Specifically, the All-Share Index  closed at 28,344.33 compared with 28,344.04 recorded on Tuesday.

Also, the market which opened trading at N14.814 trillion appreciated by one billion naira to close at N14.815 trillion.

The performance was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Guinness, Guaranty Trust Bank, Eterna, Lafarge Africa and Africa Prudential.

The market breadth closed positive with 14 gainers against 11 laggards.

Eterna drove the gainers’ chart in percentage terms, improving by 9.82 per cent to close at N4.81per share.

Academy Press trailed with 7.41 per cent to close at 29k, while Africa Prudential rose by 5.75 per cent to close at N5.70 per share.

Cornerstone Insurance and PZ Cussons appreciated by five per cent each, to close at 63k and N4.20, per share respectively.

Conversely, eTranzact led the laggards’ chart in percentage terms, dropping 9.91 per cent to close at N1.91 per share.

Wema Bank dipped 5.17 per cent to close at 55k, while Courteville shed 4.76 per cent to close at 20k per share.

FCMB Group lost 3.83 per cent to close at N2.26, while Ardova depreciated by 3.61 per cent to close at N12 per share.

However, the total volume traded decreased by 59.24 per cent as investors bought and sold 218.43 million shares worth N3.14 billion traded in 3,896 deals.

This was in contrast with a total of 535.83 million shares valued at N5.02 billion exchanged in 4,498 deals on Tuesday.

Transactions in the shares of Zenith Bank topped the activity chart with 53.05 million shares worth N1.06 billion.

United Bank for Africa followed with 33.46 million shares valued at N223.40 million, while Guaranty Trust Bank sold 25.12 million shares worth N753.18 million.

FBN Holdings transacted 13.68 million shares valued at N84.53 million, while Wema Bank accounted for 9.11 million shares worth N4.96 million.

Edited By: Oluwole Sogunle
Source: NAN

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