NSE’s indices sustain sliding profile, down by N107b

Equity transactions on the Nigerian Stock Exchange sustained sliding profile, yesterday, as virtually all the blue chip companies depreciated in price, resulting to a further slide in market capitalisation by N107 billion.

Specifically, at the close of transactions yesterday, market capitalisations of listed equities dropped by N107billion or 1.1 per cent from N9, 670trillion recorded last week Friday to N9, 563 trillion while the All/share index slides by 310.79 points from 28,131.28 to 27,820.49.

On the price movement chart, 25 stocks depreciated in price, led by Champion Breweries with 5.00 per cent to close at N3.80 per share while Guinness followed with 4.99 per cent to close at N121.84 per share.

Nigerian Aviation Handling Company shed 4.96 per cent to close at N3.64 per share. UAC-Properties lost 4.86 per cent to close at N6.26 per share. May&Baker dropped 4.76 per cent to close at N1.00 per share.

AG Leventis shed 4.71 per cent to close at N0.81 per share.
Honeywell flourmills, Nigerian Breweries, Wema bank lost 4.35 and 4.17 per share respectively to close at N2.20, N115.00 and N0.92 per share. Continental re-insurance also shed 4.00 per cent to close at N0.96 per share.

On the other hand, nine stocks appreciated in price, as Etranzact emerged the day’s highest price gainer, adding 4.65per cent to close at N2.70per share while Portland paints followed with 4.38 per cent to close at N4.05 per share.

First City Monument Bank added 4.28 per cent to close at N1.95 per share. Livestock gained 3.40 per cent to close at N1.52 per share. PZ Cussons, CAP, Berger paints gained 3.35,1.91 and 1.56 peer share to close at N27.13, N38.50 and N9.75 per share.

United Bank for Africa gained 0.83 per cent to close at N3.65 per share while Seven UP also garnered 0.25 per cent to close at N184.00 per share.

Meanwhile, a turnover of 154.7 million shares worth N2.2 billion in 2,663 deals was recorded in the day’s trading.

The premium board sector was the most active during the day (measured by turnover volume); with 63.1 million shares worth N788.4 million exchanged by investors in 555 deals.
Volume in the sub-sector was largely driven by activities in the shares of Zenith Bank Plc and FBNH Plc.

Also, the banking services sector of the financial services sector, boosted by activities in the shares of Diamond Bank Plc and Fidelity Bank Plc, followed with a turnover of 58.6 million shares valued at N246.4 million in 1,012 deals.