Blue chips drop price on NSE

Some major blue chips on the Nigerian Stock Exchange (NSE) on Wednesday recorded price depreciation as a result of profit taking by investors.

The News Agency of Nigeria (NAN) reports that Nestle topped the price losers’ chart, dropping N15 to close at N1, 060 per share.

Total lost N7 to close at N166, while Dangote Cement depreciated by N2 to close at N238 per share.

NCR lost 84k to close at N15.99, while CAP dipped by 75k to close at N45.25 per share.

The All-Share Index lost 72 points or 0.18 per cent to close at 38,127.41 against 39,199.41 recorded on Tuesday.

The market capitalisation dipped by N23 billion or 0.18 per cent to close at N12.459 trillion compared with N12.568 trillion achieved on Tuesday.

On the other hand, Mobil led the gainers’ table with N5.84 to close at N125.98 per share.

Nigerian Breweries followed with a gain of N3.88 to close at N148.89, while Flour Mill grew by N3.30 to close at N81.30 per share.

Guinness also gained N1 to close at N180, while UAC Property appreciated by 98k to close at N21.95 per share.

In all, investors staked N4.48 billion on 884.273 million shares in 4,956 deals.

This was against 341.165 million shares worth N4.84 billion traded in 4,993 deals on Tuesday.

Wema Bank emerged as the most traded equity with 409.24 million shares worth N410.22 million.

Transcorp came second with 86.65 million shares valued at N341.58 million, while NEM sold 61.75 million shares worth N50.57 million. (NAN)