Sell pressure: Stock market indices down by 0.40 percent

The News Agency of Nigeria (NAN) reports that the market capitalisation dipped N65 billion to close at N16.089 trillion against N16.154 trillion on Friday due to losses by major blue chips.

Also, the All-Share Index which opened at 45,092.83 shed 180.30 points or 0.40 per cent to close at 44,912.53.

NAN reports that Nestle topped the losers’ chart, dropping by N30 to close at N14.70 per share.

It was trailed by Unilever with a loss of N2.80 to close at N44.20, while Forte Oil was down by N1.78 to close at N50 per share.

Guaranty Trust Bank declined by N1.20 to close at N53.51, while UACN lost 39k to close at N17.10 per share.

Conversely, Beta Glass recorded the highest price gain leading the gainers’ table with N2.82 to close at N59.38 per share.

PZ industries followed with a gain of N1.10 to close at N23.10, while International Breweries appreciated by N1 to close at N64 per share.

Cadbury grew by 93k to close at N15.99, while Nigerian Breweries gained 81k to close at N143 per share.

However, the volume of shares traded rose by 231.34 per cent as investors bought and sold 4.44 billion shares valued at N15.93 billion in 8,572 deals.

This was against a turnover of 1.34 billion shares worth N8.63 billion shares exchanged in 9,053 on Friday.

Transcorp was the most active stock during the day, exchanging 3.86 billion shares worth N9.34 billion.

Diamond Bank came second accounting for 85.77 million shares worth N297.94 million, while FCMB Group traded 76.66 million shares valued at N267.06 million.

Fidelity Bank sold 69.05 million shares worth N266.04 million, while FBN Holdings traded 57.73 million shares valued at N785.72 million. (NAN)