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NSE Index drops 2.16 per cent

NSE Index drops 2.16 per cent

The business slide which was experienced on the floor of The Nigerian Stock Exchange (NSE) on Tuesday continued on Wednesday when both indicators closed in the red by 2.16 percent each.

Market Capitalisation closed lower at N11.313 trillion after it depreciated by N250. 758 billion as against N11.564 trillion recorded on Tuesday, while the All Share Index went down by 756.80 basis points to close at 34,145.79 points from 34,903.59 points recorded on Tuesday.

Meanwhile, investors bought and sold a total of 268.225 million shares valued at N3.354 billion in 4,218 deals as against 179. 83 million shares valued at N2.22 billion in 3,961 deals recorded on Tuesday with the financial services sector accounting for a total of 197.088 million shares valued at N1.596 billion in 2,281 transactions as against 120.10 million shares valued at N1.044 billion in 2,176 transactions recorded the previous trading day.

The banking subsector of the financial services sector was the most active when investors bought and sold 62.160 million shares valued at N972.280 million in 1,296 transactions as against 65.215 million shares valued at N788.88 million at 1,296 transactions recorded on Tuesday.

At the close of trading, 17 companies made it to the gainers’ table as against 23 on Monday, while 35 were on the laggards’ table as against 29 the previous day.

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