Nestle tops losers’ table, drags NSE indices down by 0.96%

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Major highly capitalised stocks posted huge price losses on the Nigerian Stock Exchange (NSE) on Tuesday with Nestle topping the losers’ chart.

The market indicators dipped 0.96 per cent reversing the upward trend recorded on Monday.

The All-Share Index which opened at 37,312.28 lost 358.87 points or 0.96 per cent to close at 36,953.41.

Similarly, the market capitalisation shed N124 billion or 0.96 per cent to close at N12.789 trillion against N12.913 trillion.

Nestle recorded the highest loss price to lead the losers’ table, declining by N40 to close at N1, 250 per share.

Guinness trailed with a loss of N2.01 to close at N100 and Unilever was down by N2 to close at N38 per share.

Dangote Cement depreciated by N1.45 to close at N236.55, while Lafarge Africa declined by N1.45 to close at N50 per share.

On the other hand, Flour Mills led the gainers’ table for the day, gaining 89k to close at N34.89 per share.

Nigerian Breweries followed with a gain of 77k to close at N139.75 and Forte Oil appreciated by 65k to close at N48.62 per share.

Okomuoil Palm gained 21k to close at N68.20, while NAHCO grew by 17k to close at N3.72 per share.

Also, the volume of shares traded dropped by 29.13 per share with an exchange of 238.36 million shares valued at N3.42 billion achieved in 4,238 deals.

This was in contrast with 336.34 million shares worth N30.02 billion transacted in 3,778 deals on Monday.

FBN Holdings was the most active stock for the day, trading 75.80 million shares worth N541.28 million.

Diamond Bank followed with 33.82 million shares valued at N37.64 million, while Stanbic IBTC traded 14.42 million shares worth N613.96 million.

Transcorp sold 11.38 million shares valued at N15.45 million and Zenith International Bank sold 10.57 million shares worth N257.49 million.

NAN

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