Investors’ wealth depreciates by N234 billion
SEC holds forum in Lagos
Following heavy price losses incurred by virtually all the blue chip companies, equity transactions on the trading floor of the Nigerian Stock Exchange re-opened on a downward note, causing market capitalisation to depreciate significantly by N234 billion.
Yesterday, market capitalisation dropped by N234 billion or 2.7 per cent from N8,712 trillion posted last week Friday to N8,478 trillion.
Similarly, the All-share index fell by 679.23 points from 25,328.07 to 24,648.84.On the activity chart, 25 stocks depreciated in price, as Nigerian Breweries led the losers’ chart with 4.9 kobo to close at N105.00 per share while Ecobank TransNational Incorporated followed with 0.73 kobo to close at N14.07 per share. Union Bank lost 0.54 kobo to close at N5.06 per share.
Zenith Bank dropped 0.46 kobo to close at N10.5 per share. Berger paints shed 0.43 kobo to close at N8.52 per share. Nigerian-German dropped 0.41 kobo to close at N3.81 per share. Guaranty Trust Bank shed 0.30 kobo to close at N14.00 per share. Fidson and Ikeja Cement dropped 0.22 kobo to close at N2.12 and 2.13 per share respectively.
Stanbic IBTC dropped 0.19 kobo to close at N13.00 per share. United Bank for Africa shed
0.16 kobo to close at N3.08 per share. Air service and Access Bank also dropped 0.10
kobo o close at N2.00 and N3.90 per share respectively.
On the other hand, 14 stocks constituted the gainers table. Flour mills topped the gainers chart with 0.93 kobo to close at N21.43 per share while National Salt Company of Northern Nigeria followed with 0.35 kobo to close at N7.65 per share. E tranzact gained 0.16 kobo to close at N3.55 per share.
Custodian&Allied insurance added 0.1 kobo to close at N1.95 per share. Mansard gained 0.09 kobo to close at N1.95 per share. Caverton added 0.07 kobo to close at N1.51 per share. United Capital gained 0.06 kobo to close at N1.47 per share.
Skye Bank gained 0.04 kobo to close at N0.98 per share. Continental Reinsurance added 0.04 per cent to close at N0.99 per share. NEM and Union Dicon also gained 0.03 kobo to close at N0.81 and 11.25 per share respectively.
On the activity chart, Equity Assurance topped the activity chart in volume terms with 44 million shares worth N22.4 million. First City Monument Bank followed with 28 million units worth N27 million.
TransNational Corporation exchanged 21 million units worth N23 million. Continental reinsurance sold 19 million shares worth N46 million. United Bank for Africa exchanged 14 million units worth N46 million. In all, investors exchanged 225 million shares worth N8.4 million in 3,058 deals.
Meanwhile, the Securities and Exchange Commission (SEC) has concluded plans to host the first quarter 2016 Capital Market Committee (CMC) meeting.
The meeting, slated for April 13, 2016, according to a statement from SEC, feature the recent initiatives of the Commission as well as updates on the Capital Market Master Plan Implementation.
The commission explained that CMC was mainly established to serve as a medium for exchange of ideas among market stakeholders as well as for feedback from SEC on how to continuously improve the market activities and regulation.
“It is an industry-wide committee comprising members of the Commission, representatives of capital market operators and trade groups and other stakeholders. The CMC meets every quarter to deliberate on various issues affecting the market and other policy matters.
“Those invited to attend the meeting are: Chief Executive Officers (CEOs) of all registered capital market firms and trade/ professional groups; Chief Executive Officers of all registered trading platforms and exchanges; and representative observers of government agencies and other stakeholders.”
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0 Comments
Let’s believe and pray. There could be a light at the end of the tunnel. Certain items are overwhelming but others encourage hope. If we appear to stumble now, there are lessons to learn. After all mistakes surely will be made sincerely but not out of mischief. Long live Nigeria.
We will review and take appropriate action.