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NSE: Nestle, Unilever, lead bearish market  

By Peter Egwuatu

Activities on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday closed on a negative trend, with Nestle Nigeria Plc , and Unilever Nigeria Plc, leading the cream of losers.

Nigerian Stock Exchange
Nigerian Stock Exchange NSE

Nestle Nigeria Plc, a highly capitalised equity, topped the losers’ chart with a loss of N10.00 per share to close at N1,500 per share. It was followed by Unilever Nigeria Plc d with a loss of N3.75 to close at N51.25 per share, while Nigerian Breweries lost N2.90 per share  to close at N111 per share per share.

Other loser include Forte Oil Plc which went down by N2.90 per share  to close at N26.10, while Conoil Plc  dropped by N2.50 per share to close at N27.50 per share.

Consequently, the All-Share Index which opened at 37,499.07 shed 106.05 points or 0.28 per cent to close at 37,605.12 points.

Also, the market capitalisation declined by N38 billion or 0.28 per cent to close at N13.584 trillion compared to N13.622 trillion recorded on Tuesday.

On the other hand, Eterna Oil led the gainers’ table increasing by 50kobo per share to close at N7.00 per share.

Guaranty Trust Bank followed with a gain of 40kobo to close at N40.00 per share, while Zenith Bank Plc gained 30kobo to close at N24.30 per share.

FCMB Group advanced by 20kobo  to close at N2.28, while Dangote Cement Industries also grew by 20kobo to close at N223.oo per share.

However, the volume of shares traded rose by 96.49 per cent, while the value increased by 18.11 per cent.

Specifically, investors bought and sold 505.74 million shares valued at N3.13 billion exchanged in 3,354 deals, as against 257.39 million shares worth N2.65 billion in 3,932 deals on Tuesday,

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