Wema Bank drives NSE turnover on Tuesday

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Wema Bank drives NSE turnover on Tuesday
Wema Bank drives NSE turnover on Tuesday

Wema Bank Plc on Tuesday drove the volume of shares traded on the Nigerian Stock Exchange (NSE) with an exchange of 6.67 billion shares valued at N6.002 billion.

The News Agency of Nigeria (NAN) reports that Equity Assurance trailed with an exchange of 59.59 million shares worth N29.79 million, while FCMB Group sold 39.39 million shares valued at N36.80 million.

GT Bank sold 34.11 million shares worth N479.84 million and Law Union accounted for 27.16 million shares valued at N19.01 million.

NAN reports that investors staked N7.16 billion on 6.96 billion shares transacted in 3,440 deals.

This was against a total of 225.26 million shares valued at N750.23 million traded in 3,058 deals on Monday.

In spite of the increased activity, the market indices dropped further by 0.04 per cent as a result of price depreciation.

The All-Share Index lost 9.91 points or 0.04 per cent to close at 24,639.48 against 24,649.39 achieved on Monday.

Also the market capitalisation, which opened at N8.478 trillion, shed N3 billion to close at N8.475 trillion.

Breakdown of the price movement table indicated that Flour Mill recorded the highest price loss to lead the losers’ chart, dropping N1.14 to close at N20.29 per share.

Dangote Cement lost 90k to close at N160, while Union Bank shed 25k to close at N4.81 per share.

Custodian and Allied Insurance lost 20k to close at N3.95 and Fidson also dipped 20k to close at N1.92 per share.

Conversely, Zenith Bank led the gainers’ table with a gain of 40k to close at N10.90 per share.

National Salt garnered 36k to close at N8.01, while E-tranzact gained 35k to close at N3.90 per share.

GT Bank improved by 21k to close at N14.21 and Oando inched 20k to close at N4.26 per share. (NAN)

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About Haruna Magaji 2425 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

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