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NSE’s indices sustain sliding profile, down by N30b


Stock.-CopyTHE bears maintained dominance on the trading floor of the Nigerian Stock Exchange, as more blue chip companies joined the league of losers, resulting to a further slide in market capitalisation by N30 billion.

Specifically, at the close of transactions yesterday, market capitalisation dropped by N30 billion or 0.4 per cent, from N8.118 trillion recorded on Wednesday to N8.088 trillion yesterday, while the All-share index fell by 88.7 points or 0.4 per cent from 23,606.89 to 23, 517.19.

Seven-Up and Nestle led the losers’ chart with 5.00 per cent to close at N177.61 and N703.00 per share. Dangote Sugar followed with 4.98 per cent to close at N5.91 per share. Nigerian Aviation Handling Company shed 4.96 per cent to close at N3.64 per share.

Cement Company of Northern Nigeria dropped 4.91 per cent to close at N9.11 per share. Eternaoil shed 4.86 per cent to close at N1.76 per share. Ikeja Hotel and Julius Berger depreciated by 4.84 and 4.60 per cent to close at N2.75 and N41.50 per share.

Unilever dropped 4.59 per cent to close at N30.32 per share. Honeywell flourmills shed 4.58 per cent to close at N1.46 per share.

Other losers of yesterday’s trading include John Holt, First City Monument Bank and May&Baker, shedding 4.35, 4.30 and 4.00 per cent to close at 88 kobo , 89 kobo and 96kobo per share respectively.

Fidelity Bank also lost 3.85 per cent to close at N1.25 per share.
International Breweries topped the gainers chart with 9.71 per cent to close at N19.55 per share while FO followed with 9.35 per cent to close at N310.00. Guinness added 4.78 per cent to close at N122.34 per cent.

Learn Africa and Continental Re-Insurance gained 4.65 and 4.30 per cent to close at 90 kobo and 97 kobo per share.
Livestock added 4.00 per cent to close at N1.30 per share. Ecobank TransNational Incorporated gained 3.27 per cent to close at N15.49 per share.

Guaranty Trust Bank added 2.32 per cent to close at N15.90 per share. United Capital gained 2.27 per cent to close at N1.35 per share. Presco also garnered 2.26 per cent to close at N34.00 per share.

Investors exchanged 2.6 million shares worth N3.7 billion in 3.057 deals, against of 1.32 billion units worth N2.91 billion transacted in 4,012 deals during the previous day.

The banking sub-sector dominated in volume terms with 2.5 billion shares worth N2.7 billion. Transactions in the shares of Wema Bank and Guaranty Trust Bank buoyed activities in the sector with 2.3 billion shares and 10 million units worth N2.4 billion and N172.7 billion in 38 and 243 deals.

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