July 4, 2018
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) on Wednesday closed the third trading day of the week on a negative note as all-share index (ASI) shed 0.28 percent to close at 37,499.07 points.
InvestmentOne reports that the session’s performance was driven by the losses in the shares of beer maker, Nigerian Breweries Plc and Unilever Nigeria Plc both dipped -65 points and -60 points each.
Also, food and beverage producer, Nestle Nigeria Plc and lender, Union Bank of Nigeria Plc depreciated -22 points and -16 points apiece; while Guinness Nigeria Plc dropped by -13 points.
This trend outweighed the gains in the shares of top tier lenders, Guaranty Trust Bank Plc and Zenith Bank Plc both appreciated by +33 points and +26 points; while FCMB Plc gained by +11 points.
InvestmentOne report says market breadth index at the close of the session’s trading was negative with 21 gainers compared 24 stocks that declined.
The report said sectors were bearish in Wednesday’s trading with Consumer Goods down -1.61 percent, Oil & Gas dipped by -0.78 percent, the Industrial depreciated -0.51 percent. The Banking sector with a gain of +0.57 percent was the lone gainer.
