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Stock market: Capitalisation drops by N3.6bn

BY PROVIDENCE OBUH

Bearish trend reappeared on the Nigerian Stock Exchange (NSE) Thursday, as the market indicators for measuring the performance indices the market capitalisation and the All share index dipped by 0.05 per cent each.

Specifically, the capitalisation dropped by N3.63 billion to close at N8.011 trillion from N8.014 trillion at which it opened, while the index declined by 12.67 bases points to close at 25,072.92 points from 25,085.59 points.

Mrs Nnenna Hemeson, Senior Brand Manager, Fayrouz & Climax, Nigerian Breweries Plc, Chichi (middle) and her husband, Managing Director/CEO, First Concept International, Mr. Osmond Oyagha, at the Fayrouz Easter beach groove at Ilashe beach, Lagos.

Bank PHB Plc led on the losers table dropping by five per cent or N0.06 to close at N1.14 per share, Japaul oil and Maritime Services Plc followed with N0.08 loss to close at N1.52 per share and Lafarge Cement WAPCO Plc dipped by N2.11 to close at N40.19 per share.

Other share price losers include: Nigerian Bottling Company Plc N1.85, DN Meyer Plc N0.11, International Breweries Plc N0.28, Transnational Incorporation Plc N0.06, Paints and Coatings Manufacturers Plc N0.11, University Press Plc N0.21, Custodian and Allied Insurance Plc N0.13, among others.

On the contrary, Cement Company of Northern Nigeria Plc recorded five per cent or N0.53 gain to close at N11.13 per share, United Bank for Africa Plc followed with N0.29 gain to close at N6.14 per share and Access Bank Plc garnered N0.39 to close at N8.54 per share.

Other share price gainers include: Neimeth International Pharmaceutical Plc N0.07, Air service and Logistics Plc N0.09, Oceanic Bank International Plc N0.08, Evans Medical Plc N0.05, Presco Plc N0.31, AG Leventis Plc N0.1, Union Homes and Savings Plc N0.03, among others.

Equity trading appreciated by per cent as a turnover of 287.90 million shares valued at two billion

was recorded in 6,261 deals compared to the previous days turnover of 256.92 million shares valued at N2.57 billion in 5,651 deals.

The Banking sub-sector enjoyed the most patronage on the sectorial analysis accounting for 55.59 per cent of the market turnover with 160.05 million shares valued at N1.26 billion in 3,396 deals. Zenith Bank Plc was the most active in the sub-sector trading 20.18 million shares valued at N307.92 million in 433 deals, United Bank for Africa Plc followed with the exchange of 16.27 million shares valued at N98.76 million in 352 deals and Finbank Plc recorded 16.09 million shares valued at N11.26 million in 75 deals.

The Insurance sub-sector trailed on the sectorial analysis accounting for 26.51 per cent of the market turnover with 76.33 million shares valued at N61.93 million in 371 deals. Lasaco Assurance Plc boosted activity in the sub-sector trading 24.74 million shares valued at N12.37 million in seven deals.

Universal Insurance Company Plc followed with the exchange of 15 million shares valued at N7.50 million in six deals and African Alliance Insurance Company Plc recorded ten million shares valued at five million in two deals. Custodian and Allied Insurance Plc recorded significant volume recording 7.578 million shares worth N24.968 million exchnaged in 15 deals.

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