Equity price on the floor of Nigerian Stock Exchange (NSE) Wednesday closed lower for third consecutive day, shedding N38 billion.
Specifically, market Capitalisation of listed equities declined by 0.29 per cent to N13.263 trillion from N13.301 trillion reported the previous day.
The NSE All Share Index also fell by 72.41 basis points to 25424.91 points from 25497.32 points reported on Tuesday.
Investors traded 269.629 million shares valued at N2.871 billion in 4155 deals against 251.963 million shares valued at N2.044 billion in 4185 deals.
The decline in stock prices according to operators signal price correction and pullback as investors digest the implication of government policies, especially the recent hike in electricity tariff and pump price of fuel without considering the multiplier effects on the increase prices of goods and living standard of Nigerians.
A review of the transactions showed that Fidson Health Care led gainers table during the day, increasing by N0.27 kobo to close at N3.98 billion, PZ Cusson Plc followed with a gain of N0.25 kobo to close at N4.25 kobo, Custodian Investment gains N0.15 kobo to close at N4.95 kobo, Wapco Insurance gained N0.10 kobo to close at N12.15 kobo, FCMB group added N0.06 kobo to close at N2.26 kobo.
On the contrary, Okomuoil Palm topped losers chart for the day, declining by N1.00 to close at N78.00, Unilever Nigeria Plc trailed with a loss of N0.60 kobo to close at N14.40 kobo, Zenith Bank Plc fell by N0.50 kobo to close at N16.40 kobo, C and I Leasing Plc down by N0.35 kobo to close at N3.55 kobo, UACN declined by N0.30 kobo to close at N6.00.
