Stock market sheds N9bn

Stocks on the floor of the Nigerian Stock Exchange dipped further on Wednesday, extending negative sentiment  which reflected investors indecision as they  trade cautiously  awaiting the release of audited corporate earnings. 

The market capitalisation of listed equities declined by N9 billion  to N14.338 trillion from N14.347 trillion reported yesterday.

The NSE All Share Index also dipped by 24.48 basis points to 27523.08 points from 27547.56 points traded on Monday.

Investors traded 290.154 million shares valued at N5.024 billion in 3528 deals against 168.073 million shares worth N2.156 billion in 3075 deals in the previous day.

An analysis of the transactions for the day showed that Lafarge Wapco led gainers table, growing by N0.60 kobo to close at N15.70 kobi, C & I Leasing followed with a gain of N0.55 kobo to close at N6.35 kobo, Africa Prudential Registrar Plc gained N0.46 kobo to close at N5.12 kobo, United Capital Plc increased by N0.29 kobo to close at N3.22 kobo, Caverton went up by N0.22 kobo to close at N2.82 kobo.

On the contrary, Forte Oil recorded the highest loss during the day, shedding N1.85 kobo to close at N16.70 kobo, Custodian and Investment trailed with a loss of N0.60 kobo to close at N5.45 kobo, Guaranty Trust Bank down by N0.45 kobo to close at N28.40 kobo, NCR fell by N0.28 kobo to close at N2.70 kobo while Dangote Sugar Refinery Plc dipped by N0.25 kobo to close at N12.10 kobo.

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