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Sunday, 19 October 2014
Nigeria: N260bn wiped out of Nigerian stocks in a day
Activities on the Nigerian Stock Exchange (NSE) on Thursday remained on a downward trend with the All-Share Index dropping by 2.01 per cent as a result of profit taking.
The index depreciated by 787.8 basis points to close at 38,490.67 as against 39,278.47 recorded on Wednesday.
Also, the market capitalisation depreciated by N260 billion or 2.01 per cent to close at N12.709 trillion in contrast with N12.969 trillion posted on Wednesday.
NSE: day of big loss
Forte Oil led the losers’ chart dropping by N10.9 to close at N207.1 per share.
It was trailed by Lafarge Wapco with a loss of N6.15 to close at N116.85 per share, while Dangote Cement lost N4.94 to close at N215 per share.
UACN dropped by N2.8 to close at N53.2, while Conoil decreased by N2.59 to close at N49.23 per share.
On the other hand, 7UP topped the gainers’ chart with N15.13 to close at N162.86 per share.
Honeyflour came second, appreciating by 16k to close at N3.85, while Cutix gained 9k to close at N1.97 per share.
FCMB gained 5k to close at N4.17, while International Breweries rose by 3k to close at N31.5 per share.
Investors bought and sold 524.220 million shares worth N7.66 billion transacted in 4,779 deals.
The volume represented 24.81 per cent increase over the 420.010 million shares valued N4.61 billion traded in 5,497 deals on Wednesday.
Financial Services sector remained the toast of investors as FBN Holdings emerged the most traded equity with 92.68 million shares worth N1.03 billion.
Zenith Bank came second on the activity chart; accounting for 77.35 million shares worth N1.66 billion, while ETI traded 75.81 million shares valued N1.40 billion
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