Home Markets Investors lose N90bn as Nestlé tops table

Investors lose N90bn as Nestlé tops table


Equity investors have lost N90 billion from their stakes at the close of trading on the floor of Nigerian Stock Exchange (NSE).

Trading ended for the week on Friday with a loss of 0.60 per cent due to huge loses by some highly capitalised stocks.

Nestlé recorded the highest price loss to lead the losers’ table by N15 to close at N1,380 per share.

It was trailed by Seplat with N7 to close at N760, while Presco dipped N1.85 to close at N72.50 per share. Zenith International Bank was down by N1.15 to close at N27.60, while Dangote Sugar lost N1.10 to close at N20.90 per share.

The All-Share Index which opened at 42,185.38 shed 249.48 points or 0.60 per cent to close at 41,935.90.

Market capitalisation shed N90 billion or 0.60 per cent to close at N15.001 trillion in contrast with N15.091 trillion achieved on Thursday.

On the other hand, Dangote Cement led the gainers’ table by N1.40 to close at N264 per share.

Flour Mills followed with a gain of 65 kobo to close at N38, while Guinness garnered 40 kobo to close at N100.20 per share.

FBN Holdings increased by 30 kobo to close at N11.70, while Unilever appreciated by 25 kobo to close at N53.15 per share.

However, the volume of shares transacted increased marginally by 5.45 per cent with an exchange of 426.73 million shares worth N7.09 billion traded in 5,191 deals.

This was against a total of 404.66 million shares valued at N6.03 billion achieved in 5,403 deals on Thursday.

Banking stocks dominated the day’s activities with Zenith International Bank emerging the most active with 87.42 million shares worth N2.46 billion.

Fidelity Bank followed with an account of 46.37 million valued at N111.74 million, while FBN Holdings traded 42.75 million shares worth N494.73 million.

Access Bank exchanged 37.24 million shares valued at N30.49 million, while Guaranty Trust Bank traded 31.96 million shares worth N1.44 billion.