Nestle, Unilever, Nigerian Breweries dominate bears on NSE

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Activities on the Nigerian Stock Exchange (NSE) for the third consecutive day on Wednesday closed on a negative trend, with Nestle leading the laggards’ table.
Nestle, one of the highly capitalised equity, topped the losers’ chart with a loss of N10 per share to close at N1,500 per share.
Unilever trailed with a loss of N3.75 to close at N51.25, while Nigerian Breweries lost N2.90 to close at N111 per share.
Forte Oil was down by N2.90 to close at N26.10, while Conoil dropped by N2.50 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.
Also, the market capitalisation lost 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 for the day, increasing by 50k to close at N7 per share.
Guaranty Trust Bank followed with a gain of 40k to close at N40, while Zenith International Bank added 30k to close at N24.30 per share.
FCMB Group advanced by 20k to close at N2.28, while Dangote Cement Industries also grew by 20k to close at N223 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,
Multiverse was the most active stock for the day, trading 200.04 million shares worth N40.01 million.
NAHCO followed with an account of 125.09 million shares valued at N747.33 million, while Guaranty Trust Bank traded 28.42 million shares worth N1.13 billion.
Access Bank sold 18.91 million shares worth N195.44 million, while FCMB Group exchanged 13.91 million shares valued at N30.83 million.

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