NSE’s indices depreciate by N29 billion

Following price losses suffered by most bluechip companies, equity transactions on the Nigerian Stock Exchange re-opened on a downward note, causing market capitalisation to decline by N29 billion.

Specifically, at the close of transactions yesterday, 22 companies constituted the losers chart, led by FO with 9.13 per cent to close at N250.00 per share. Air service followed with 4.97 per cent to close at N1.72 per share.

Portland paints lost 4.96 per cent to close at N2.49 per share. Union Homes shed 4.91 per cent to close at N3.68 per share. Mansard lost 4.89 per cent to close at N2.14 per share. Neimeth dropped 4.55 per cent to close at N0.63 per share.

Unity Bank and Honeywell flourmills shed 4.29 and 3.57 per cent to close at N0.67 and N1.35 per share. Wema Bank lost 2.78 per cent to close at N0.70 per share. Custodian &Allied also dropped 2.37 per cent to close at N3.71 per share.

On the other hand, 15 stocks appreciated inprice, as Learn Africa emerged the highest price gainers, adding 4.94 per cent to close at N0.85 per share while Cement Company of Northern Nigeria followed with 4.93 per cent to close at N7.45 per share.

Eternaoil gained 4.62 per cent to close at N2.04 per share. AIICO gained 4.11 per cent to close at N0.76 per share. Access Bank added 1.83 per cent to close at N3.90 per share. Seven UP garnered 1.69 per cent to close at N145.00 per share.

African Prudential gained 1.57 per cent to close at N2.59 per share. Tigerbrands added 1.44 per cent to close at N2.82 per share. United Capital also garnered 1.35 per cent to close at N1.50 per share.

Consequently, the All-share index slides by 85.01 points from 24,850.11 recorded on Friday to 24,765.10 while market capitalisation sheds weight by N29 billion or 0.3 per cent from 8,547 trillion to N8,518 trillion.