Business: Zenith Bank Emerges Most Traded Stock With N62.28m Shares Worth N1.08bn

The volume of shares traded on the Nigerian Stock Exchange (NSE) on Thursday increased by 62.56 per cent amid sell pressure.The investors staked N5.07 billion on 295.23 million shares traded in 3,804 deals. This was against 181.61 million shares worth N2.06 billion exchanged in 3,074 deals on Wednesday.166.76 million shares worth N1.12 billion exchanged in 3,287 deals on Tuesday, an increase of 8.89 per cent. Zenith Bank emerged the most traded stock with 62.28 million shares worth N1.08 billion.It was trailed by Transcorp with 35.89 million shares valued at N60.52 million, while UBA traded 32.22 million shares worth N112.32 million.Continental Reinsurance sold 30.43 million shares valued at N30.42 million, while Access Bank exchanged 21.77 million shares worth N97.95 million.An analysis of price movement showed that Unilever recorded the highest price loss, dropping N1.75 to close at N31.43 per share.Okomu Oil followed with a loss of N1.38 to close at N28.82, while Lafarge Africa dipped by 94k to close at N95 per share.Nigerian Breweries also lost 94k to close at N35.06, while Flour Mill shed 40k to close at N21.80 per share.

Consequently, the All-Share Index lost 1.47 points or 0.01 per cent to close at 29,030.97 against 29,032.44 achieved on Wednesday.Also, the market capitalisation, which opened at N9.977 trillion, appreciated marginally to close at N9.979 trillion.On the other hand, Guinness led the gainers’ chart appreciating by N6.82 to close at N143.24 per share.

International Breweries gained 75k to close at N16, while Julius Berger appreciated by 69k to close at N39. 50 per share.Stanbic IBTC rose by 41k to close at N20.26, while Oando chalked up 38k to close at N7.36 per

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