Stock market reopens negative, indices down by N60 billion
Transactions on the Nigerian Stock Exchange witnessed another drop in share prices at the reopening of trading yesterday, following losses suffered by major highly capitalised stocks, especially WAPCO and Nigerian Breweries, causing market capitalisation to slide further N60 billion.
Specifically, at the close of transactions, 25 stocks made the losers’ chart, led by Lafarge WAPCO with N5.46 kobo to close at N50.54 per share. Nigerian Breweries trailed with a loss of N3.01 kobo to close at N157 per share.
Presco Plc fell by N3 to close at N65, Zenith International Bank down by N0.89 kobo to close at N25.1 kobo and Guinness Nigeria Plc depreciated by N0.65 kobo to close at N100.35 kobo.
Nestle dropped 0.27 kobo to close at N1, 200 per share. Stanbic IBTC and Cutix shed 0.25 kobo to close at N44.05 and N2.35 per share respectively.
National Salt Company of Nigeria depreciated by 0.20 kobo to close at N13.00 per share.Eterna oil lost 0.16 kobo to close at N3.32 per share. Ecobank TransNational Incorporated also dropped 0.15 kobo to close at N16.95 per share.On the other hand, 15 stocks appreciated in price. International Breweries emerged the day’s highest price gainer, adding N5.22 kobo to close at N56.23 kobo, while Flour Mills Nigeria Plc followed with a gain of N0.80 kobo to close at N30 per share.
UAC of Nigeria added N0.78 kobo to close at N16.89 kobo; Access Bank advanced by N0.30 kobo to close at N9.80 kobo; while RedStar Express appreciated by N0.23 kobo to close at N4.98 kobo.
Guaranty Trust Bank garnered 0.15 kobo to close at N41.85 per share. Fidelity Bank added 0.06 kobo to close at N1.50 per share. C&I
Leasing appreciated by 0.05 kobo to close at N1.80 per share.
HoneyWell gained 0.04 kobo to close at N1.94 per share. Union Bank also added 0.03 kobo to close at N6.10 per share.Consequently, market capitalisation of listed equities declined by 0.48 per cent to N12.533 trillion from N12.593 trillion recorded on Friday. Also, the All -share Index closed lower at 36412.73 points from 36587.31 traded on Friday.
Investors traded 253.537 million shares worth N2.699 billion in 3609 deals against 106.546 million shares valued at N1.883 billion exchanged hands the previous day in 3193 deals.
The result further indicated that Access Bank Plc of the banking industry was the toast of investors during the day, exchanging 68.741 million shares worth N653.544 million, FBNHoldings followed with account of 27273 million shares valued at N163.588 million.
Transnational Corporation of Nigeria traded 26.060 million shares cost N37.769 million, Fidelity Bank exchanged 24.033 million shares worth N35.745 million while Zenith Bank sold 13.699 million shares valued at N340.712 million.
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