Breaking News

Bears return, deflate market capitalisation by N53bn


Trading on the Nigerian Stock Exchange (NSE) resumed Monday on a bearish note as the value of listed equities represented by the market capitalisation dropped by N52.63 billion.

In particular, the capitalisation dipped by 0.64 per cent to close at N8.121 trillion from N8.174 trillion at which it opened.  The All share index also declined by 0.64 per cent or 164.75 bases points to close at 25,420.49 points from 25,585.24 point.

Nigeria Police Force  Micro Finance Bank led on the losers table dropping by N0.08 to close at N1.54 per share, Longman Nigeria Plc followed with the exchange of N0.37 to close at N7.19 per share and Wema Bank Plc dipped by N0.08 to close at N1.60 per share.

Other share price losers include: DN Meyer Plc N0.15, AG Leventis Plc N0.10, United Bank for Africa Plc N0.41, Neimeth International Pharmaceutical Plc N0.05, Ikeja Hotel Plc N0.07, Nigerian Bottling Company Plc N1.51, Continental Reinsurance Plc N0.04, among others.

On the other hand Ecobank Nigeria Plc recorded the most share price gain on the gainers table with N0.20 gain to close at N4.20 per share, Transnational Incorporation Plc followed with a gain of N0.03 to close at N0.63 per share and Intercontinental Bank Plc garnered N0.08 to close at N1.68 per share.

Other share price gainers include: Glaxo Smithkline Consumers Plc N1.41, Poly Product Plc N0.08, National Salt Company Nigeria Plc N0.28, Union Bank Nigeria Plc N0.16, Afribank Nigeria Plc N0.09, Oceanic Bank Plc N0.10,Bank PHB Plc N0.07, among others.

Equity trading declined by 61.34 per cent as a turnover of 163.29 million shares valued aqta N1.46 billion was recordedin 5,154 deals, in contrast to Friday’s turnover of 422.49 million shares valued at N2.42 billion in 5.131 deals.

The Banking sub-sector dominated the other sub-sector on the sectorial analysis accounting for 67.78 per cent of the market turnover with 110.69 million shares valued at N826.12 million in 2,989 deals.

United Bank for Africa Plc enjoyed the most patronage in thesub-sector trading 10.33 million shares valued at N93.42 million in 283 deals, Skye Bank Plc followed with the exchange of 9.96 million shares valued at N91.22 million in 113 deals and Intercontinental Bank Plc recorded 9.92 million shares valued at N16.67 million in 92 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting 7.61 per cent of the marketr turnover with 12.43 million shares valued at N13.58 million in 209 deals.  Continental Reinsurance Plc was the most active in the sub-sector trading 2.77 million shares valued at N2.81 million in 11 deals, AIICO Insurance Plc followed with the exchange of 2.41 million shares valued at N2.42 million in 56 deals and NEM Insurance Company Nigeria Plc recorded 1.99 million shares valued at N1.10 million in 31 deals.

NSE 30 which basically measures the performance of blue chips in the market dropped by 1.02 per cent, NSE Banking lost the highest points by 2.34 per cent, NSE Oil & Gas dipped by 1.22 per cent, NSE Food & Beverages moved down by 0.39 per cent while NSE Insurance lost the lowest points of 0.24 per cent.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.