NSE’s indices depreciate further by N70 billion

 Executive Director, Finance & Administration, Red Star Express Plc, Babaura Auwalu; (left), Chief Executive Officer, Nigerian Stock Exchange, Oscar N. Onyema; CEO/Managing Director, Red Star Express Plc, Olusola Obabori and Executive Director, Sales & Marketing, Victor Ukwat, during the NSE closing gong ceremony by Red Star Express Plc, in Lagos 

Executive Director, Finance & Administration, Red Star Express Plc, Babaura Auwalu; (left), Chief Executive Officer, Nigerian Stock Exchange, Oscar N. Onyema; CEO/Managing Director, Red Star Express Plc, Olusola Obabori and Executive Director, Sales & Marketing, Victor Ukwat, during the NSE closing gong ceremony by Red Star Express Plc, in Lagos

Transactions in the equity sector of the Nigerian Stock Exchange continued their downward trend yesterday.

The development was occasioned by pricelosses suffered by major blue chip companies, resulting in further slide in market capitalisation by N70 billion.

Specifically, at the closed of trading yesterday, the All-share index fell by 203.31 points or 0.7 per cent from 27,707.12 recorded on Monday to 27,503.81.
Also, market capitalization dropped by N70 billion from N9,517 trillion to N9447 trillion.

On the price movement chart, 25 stocks depreciated in price, led by Portland Paints with 9.09 per cent to close at N1.60 per share. Union Bank followed with 5.00 per cent to close at N3.99 per share.

African Prudential shed 4.82 per cent to close at N2.37 per share. Champion Breweries lost 4.72 per cent to close at N2.42 per share. Cadbury dropped 4.11 per cent to close at N14.00 per share.

FBN Holdings depreciated by 2.82 per cent to close at N3.06 per share. FO lost 2.82 per cent to close at N172.00 per share. Unity Bank shed 2.78 per cent to close at N0.70 per share. Zenith Bank lost 2.34 per cent to close at N14.60 per share. Fidelity Bank also dropped 2.15 per cent to close at N0.91 per share.

On the other hand, 10 stocks constituted the gainers’ chart, as UACN emerged the day’s highest price gainer with 4.88 per cent to close at N21.50 per share while May&Baker followed with 2.35 per cent to close at N0.87 per share. Eternaoil added 2.35 per cent to close at N2.80 per share.

Skye Bank gained 1.56 per cent to close at N0.65 per share. Livestock garnered 1.12 per cent to close at N0.90 per share. National Salt Company of Nigeria added 1.12 per cent to close at N8.10 per share. Dangote Sugar Refinery appreciated by 0.92 per cent to close at N6.56 per share.

Guinness gained 0.49 per cent to close at N95.97 per share. United Bank for Africa garnered 0.44 per cent to close at N4.52 per share. Nigerian Breweries also gained 0.01 per cent to close at N140.01 per share.

Guaranty Trust Bank was investors’ toast in volume terms, accounting for 31 million shares worth N845 million. Eco bank TransNational Incorporated followed with 31 million units valued at N350 million. Access Bank exchanged 17 million units  worth N93 million.

Diamond Bank traded 13 million units valued at N15 million. First City Monument Bank also exchanged 11 million shares valued at N13.6 million.
In all, investors exchanged 176 million shares worth N1.8 billion in 3,682 deals.

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Nigerian Stock Exchange
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