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NSE’s indices plunge by N215 billion




Equity transactions on the trading floor of the Nigerian Stock Exchange re-opened on a downturn yesterday, after the one-day holiday declared to commemorate the Easter celebration, even as virtually all the blue-chip companies suffered price depreciation, causing market capitalisation to plunge significantly by N215 billion.

Yesterday, 27 companies depreciated in value, led by Nigerian German with 9.64 per cent to close at N4.22 per share. Diamond Bank followed with 9.23 per cent to close at N1.18 per share. Skye bank lost 7.07 per cent to close at N0.92 per share.

Ashaka cement shed 5.00 per cent to close at N22.80 per cent. Cement Company of Northern Nigeria shed 5.00 per cent to close at N8.17 per share. Nigerian Breweries dropped 4.99 per cent to close at N111.83 per share. West African Portland Company shed 4.88 per cent to close at N77.00 per share. FBN Holdings shed 4.80 per cent to close at N3.17 per share.

African Prudential dropped 4.78 per cent to close at N2.39 per share.
Unilever, Air service, Livestock shed 4.59, 4.55 and 4.46 per cent to close at N29.50, N2.10 and N1.07 per share. May&Baker also shed 4.21 per cent to close at N0.91 per share.

On the other hand, 11 stocks constituted the gainers chart, as Dngote Sugar Refinery emerged the day’s highest price gainer with 4.91 per cent to close at N5.98 per share. PZ Cussons followed with 4.87 per cent to close at N23.90 per share.

United Bank for Africa added 4.76 per cent to close at N3.96 per share. Total gained 4.64 per cent to close at N146.50 per share. Eternaoil added 4.55 per cent to close at N1.84 per share. NEM and NASCON garnered 2.67 and 1.23 per cent to close at N0.77 and 6.60 per share.

International Breweries gained 1.06 per cent to close at N19.00 per share, Presco added 1.02 per cent to close at N34.60 per share. Fidelity Bank also gained 0.73 per cent to close at N1.38 per share.

Consequently, the All-share index slide by 622.62 points or 2.5 per cent from 25,899.91 recorded last week Thursday to 25,277.29 while market capitalisation dropped by N215 billion from N8,909 trillion to N8,694 trillion.

First City Monument Bank remains the most active stock with 60 million shares worth N46 million while Guaranty Trust Bank followed with 34 million units valued at N503 million. United bank for Africa traded 32 million shares worth N122 million.

Unity Kapital exchanged 22 million units worth N70 million. In all, investors exchanged 282 million shares worth N1.3 billion in 3,225 deals, in contrast with a total of 397.05 million units worth N3.28 billion in 3,742 deals on Thursday.

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