NSE’s indices depreciate further by N75 billion

TRANSACTIONS on the equity sector of the Nigerian Stock Exchange continued on a downward note yesterday, following price losers suffered by major highly capitalised stocks, as market capitalisation depreciates further by N75 billion.

At the close of trading yesterday, Tigerbrands led 20 others on the losers chart with 9.09 per cent to close at N1.70 per share. Oando followed with 5.17 per cent to close at N5.87 per share. Honeywell flourmills shed 5.00 per cent to close at N2.09 per share.

May&Baker lost 5.00 per cent to close at N0.95 per share. Cement Company of Northern Nigeria lost 4.99 per cent to close at N7.61 per share. Eternaoil shed 4.86 per cent to close at N1.76 per share. Diamond bank dropped 4.84 per cent to close at N2.36 per share.

First City Monument Bank dropped 4.62 per cent to close at N1.86 per share. NEM also shed 4.41 per cent to close at N0.65 per share.

On the other hand, 13 stocks appreciated in price, as Neimeth pharmaceutical Plc emerged the day’s highest price gainer with 8.89 per cent to close at N0.98 per share while Nigerian Aviation Handling Company followed with 4.95 per cent to close at N3.82 per share.

Law Union & Rock gained 3.70 per cent to close at N0.56 per share. Wema bank added 3.26 per cent to close at N0.95 per share. AFRIPRUD gained 3.20 per cent to close at N2.58 per share.
Unilever, United Bank for Africa, Presco garnered 1.76 and 1.64 per cent respectively to close at N37.02, N3.71 and N31.00 per share.

Nigerian Breweries added 0.63 per cent to close at N115.72 while Guinness gained 0.13 per cent to close at N122.00 per share.

Consequently, market capitalisation dropped further by N75 billion or 0.7 per cent from N9,563 trillion recorded on Monday to N9,488 trillion while the All-share index dropped by 223.68 points from 27,820.49 to 27,596.81.

Meanwhile, a turnover of 176.3 million shares worth N3.06 billion in 3,011 deals was recorded in the day’s trading.
The banking sub-sector of the financial services sector was the most active during the day (measured by turnover volume); with 79.4 million shares worth N681.2 million exchanged by investors in 1,086 deals.

Volume in the sub-sector was largely driven by activities in the shares of GTB Plc and UBA Plc.
Premium board sub-sector boosted by activities in the shares of Zenith Bank Plc and FBNH Plc followed with a turnover of 39 million shares valued at N465.1 million in 507 deals.