Market capitalisation drops further by N95b
November 4, 2009
TRANSACTIONS on the equity sector of the Nigerian Stock Exchange re-opened on a downward trend, as blue chip stocks continued to witness share price depreciation, causing the All-share index to slide further by 1.9 per cent.
Specifically, at close of trading yesterday, 23 stocks appreciated in price while 40 recorded price depreciation, thus causing price losses to outweigh gains, as the bears stage come back on the Exchange.
The market capitalisation, which opened at N5.111 trillion, dropped by N95 billion to close at N5.02 trillion, while the All-share index dipped by 402.16 points from 21,665.46 to 21,263.30.
On the price movement chart, Lafarge WAPCO led the losers' table with 155 kobo to close at N29.45 per share while Julius Berger trailed with 141 kobo to close at N26.91 per share.
First Bank Nigeria Plc (FBN), Zenith Bank and United Bank for Africa (UBA) also lost 74 kobo, 72 kobo and 59 kobo to close at N14.11, N13.68 and N11.26 per share.
On the other hand, Unilever led the gainers' chart with 79 kobo to close at N16.61, followed by Ashaka Cement with 30 kobo to close at N13.40 per share.
Dangote Flour and National Aviation Handling Company (NAHCo) gained 23 kobo to close at N4.93 kobo per share and12 kobo to close at N7.02 per share while RedStar Express made 11 kobo to close at N2.36 per share.
Cement Company of Northern Nigeria (CCNN) gained 11 kobo to close at N13.11 kobo per share while National Salt Company of Nigeria (NASCON) added 10 kobo to close at N3.90 kobo.
The banking sub-sector retained its position on the sectoral chart with investors staking N1.95 billion on 237.27 ordinary shares exchanged in 3020 deals while the insurance sub-sector followed, accounting for 31.8 million ordinary shares worth N23.32 million in 391 deals.
The food/beverage & tobacco sub-sector closed as the third most traded sub-sector with 17.68 million shares valued at N408.56 million exchanged in 471 deals.
United Bank for Africa (UBA) accounted for 39.1 million shares valued at N447.4 million in 211 deals followed by Diamond Bank with 29.5 million units worth N205.7 million in 135 deals.
On the whole, investors bought 338.8 million shares worth N3.1 billion exchanged in 5,675 deals.
The Guardian Newspaper, Wednesday November 4, 2009.
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