Nigeria stocks lower at close of trade; NSE 30 down 0.41%

Yemisi Izuora with Stock Report

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Nigeria stocks were lower after the close on Wednesday, as losses in the Banking, Insurance and Oil & Gas sectors led shares lower.

At the close in Lagos, the NSE 30 lost 0.41% to hit a new 3-months low.

The best performers of the session on the were Dangote flour which unchanged 0.00% or 0.00 points to trade at 2.95 at the close. Meanwhile, Pz Cussons LG unchanged 0.00% or 0.00 points to end at 27.44 and Nestle Nigeria unchanged 0.00% or 0.00 points to 827.40 in late trade.

The worst performers of the session were Union Bank which fell 4.66% or 0.34 points to trade at 6.95 at the close. Wemabank declined 4.49% or 0.040 points to end at 0.850 and Access Bank was down 2.38% or 0.10 points to 4.10.

Falling stocks outnumbered advancing ones on the Lagos Stock Exchange by 36 to 6 and 53 ended unchanged.

Shares in Wema bank fell to 52-week lows; down 4.49% or 0.040 to 0.850. Shares in Access Bank fell to 3-years lows; losing 2.38% or 0.10 to 4.10.

Crude oil for October delivery was down 4.10% or 1.77 to $41.35 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October fell 3.19% or 1.55 to hit $47.26 a barrel, while the December Gold contract rose 1.01% or 11.30 to trade at $1128.20 a troy ounce.

EUR/NGN was down 0.49% to 219.120, while USD/NGN fell 0.26% to 198.515.

The US Dollar Index was down 0.11% at 96.88.

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