NSE: Sell pressure on consumer goods stocks drives market’s retreat to negative territory

The Nigerian Stock Exchange (NSE) had its latest bull run come to a halt on Wednesday as profit-taking in the shares Nigerian Breweries, CAP, GTB and NNFM caused trade to close in the negative territory.

A fall in the Consumer Goods Index by 1.81% to 569 index points also triggered losses.

A negative market breadth was recorded as 22 losers emerged against 19 gainers.

The All Share Index (ASI) edged down by 0.26% to 35,056.82 basis points. Similarly, market capitalisation depreciated, falling to N18.323 trillion at the end of trade on the NSE

Year to date, the index is up by 30.6%.


Aiico led the flock of gainers, appreciating by 9.90% to close at N1.11. Regal Insurance added up 9.09% to end today’s trade at N0.24. FTN Cocoa went up by 8.70% to N0.25. Union Diagnostic rose to N0.27, notching up 8% in the process. Cornerstone completed the top 5, climbing by 7.41% to N0.58.


C&I Leasing was the worst performing stock on the NSE today, declining by 9.90% to close at N4.46. Mansard shed 9.70% to close at N2.14. NNFM fell to N6.26, losing 9.67%. CAP Hotel dipped to N2.20, recording 9.09% depreciation. Nigerian Breweries closed at N56, going down by 7.05%.


368.966 million shares estimated at N5.491 billion were traded today in 4,598 deals on the NSE.

Access was the most active stock on the NSE today with 46.339 million units of its stocks worth N403.135 million traded in 208 deals. 44.432 million units of FBN Holdings shares priced at N325.585 million exchanged hands in 275 transactions. Zenith Bank traded 44.017 million shares estimated at N1.061 billion in 538 transactions. GTB traded 39.003 million shares valued at N1.329 billion in 319 deals. Dangote Sugar had 31.441 million shares valued at N619.080 million traded in 143 deals.

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