Sell pressure: NSE moves 4.34bn shares worth N4.69bn

Investors on the Nigerian Stock Exchange (NSE) on Wednesday staked N4.69 billion on 4.34 billion shares exchanged in 4,125 deals, amid sell pressure. This was against the 287.04 million shares worth N2.67 billion traded in 4,561 deals on Tuesday. Unity Capital drove the volume of shares traded, trading 4.16 billion shares worth N3.20 billion achieved in one deal.
Zenith Bank accounted for 44.52 million shares valued at N560.55 million traded in 749 deals, while UBA sold 21.69 million shares worth N78.34 million achieved in 236 deals.
FCMB Group transacted 17.47 million shares valued at N14.09 million in 185 deals, while Transcorp exchanged 14.77 million shares valued at N16.28 million transacted in 135 deals. The market indices for the third consecutive day remained on a negative trend, dropping by 0.34 per cent due to price depreciation by blue chips.
Specifically, the All-Share Index shed 87.65 points or 0.34 per cent to close at 25,657.48 against 25,745.13 posted on Tuesday. Also, the market capitalisation which opened at N8.855 trillion lost N30 billion to close at N8.825 trillion. Nestle topped the losers’ chart, dropping by N10 to close at N680 per share. Guinness came second with a loss of N3.29 to close at N109.50, while 7UP dipped N2.41 to close at N151.59 per share.
UACN lost 93k to close at N20.02 and ETI depreciated by 81k to close at N15.45 per share.
Conversely, Nigerian Breweries topped the gainers’ table, growing by N3.05 to close at N96.05 per share. Dangote Sugar followed with a gain of 30k to close at N6.31, while Stanbic IBTC appreciated by 20k to close at N15.50 per share. GT Bank increased by 20k to close at N16.40, while Champion Breweries garnered 13k to close at N3.13 per share.