NSE’s indices sustain sliding profile, down by N24 billion

Price losses suffered by virtually all the bluechip companies, yesterday, pulled market capitalisation by N24 billion.

Yesterday, 37 stocks depreciated in price, led by Gloxosmith with N1.89 kobo to close at N36.11 kobo, Cadbury trailed with a loss of N1.50 kobo to close at N28.56 kobo while Okomu Oil fell by N1.20 kobo to close at N22.85 kobo. Other companies that depreciated in price were Forte Oil and Lafarge Wapco, which fell by N1.08 kobo and N0.87 kobo respectively to close at N218.90 kobo and N100.63 kobo.

Other losers of yesterday’s transactions include NNFM, Oando and Stanbic IBTC, shedding 0.64, 0.57 and N0.42 per cent to close at N12.19, N18.00 per share.
Guaranty Trust Bank lost 0.40 per cent to close at N22.00 per share.
Union Bank of Nigeria dropped 0.34 per cent to close at N6.95 per share. Berger paints and Zenith bank also lost 0.28 and 0.20 per cent to close at N9.23 and N16.00 per share.
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On the other hand, six companies recorded price appreciation, as Dangote Cement emerged the highest price gainer, increasing by N3.00 to close at N183.00, Flour Mills Nigeria followed with a gain of N0.10 kobo to close at N25.41 kobo, Paint Com increased by N0.04 kobo to close at N1.00, Ecobank Transnational Incorporated and May and Baker Nigeria went up by N0.03 kobo each to close respectively at N18.70 kobo and N1.30 kobo.

Consequently, the market capitalisation of listed equities declined by 0.23 per cent to N10.297 trillion from N10.321 trillion recorded the previous day. Also the Nigerian Stock Exchange NSE All Share Index dropped by 70.24 basis points to 30042.38 points from 30112.62 points traded on Tuesday.

Investors traded 299.700 million shares worth N2.550 billion in 3556 deals against 307.989 million shares valued at N3.616 million in 4365 deals.

Further analysis indicated that ‎​United Bank for Africa UBA of the banking subsector recorded the highest volume of activities exchanging 65.946 million shares worth N211.859 million, Access Bank Plc traded 39.132 million shares worth N162.902 million, Skyebank 30.417 million shares valued at N53.928 million. Guaranty Trust Bank sold 27.621 million shares cost N607.926 million and Niger Insurance exchanged 25.056 million shares worth N12.528 million.