Market capitalisation drops to N4.9tr on the Exchange
December 1, 2009
THE market capitalisation of the Nigerian Stock Exchange (NSE) dropped to N4.998 trillion at the reopening of trading yesterday, down from the N5.04 trillion recorded at the end of transaction last week Wednesday.
At the close of transactions, market capitalisation fell by N49 billion or 0.9 per cent from N5.04 trillion recorded when the market closed for the week last Wednesday to N4.998 trillion, while the market's All-share index which measures the performance of quoted companies dropped by 207.48 points or 0.9 per cent from 21,217.77 to 21,010.29.
The drop may however, be attributed to the two day holiday to commemorate the Edel-Kabir celebration.
On the price movement chart, 30 stocks appreciated in price led by Flourmill Plc with 150 kobo, to close at N35.00 per share to close at N35.00 per share followed by PZ Cussons Plc with 118 kobo to close at N24.79 per share.
UAC Properties Plc, West Africa Portland Plc, Cement Company of Northern Nigeria Plc added 100 kobo, 93 kobo and 63 kobo to close at N21.12, N31.90 and N13.23 per share
Benue Cement Company Plc, RT Briscoe Plc, Skye Bank Plc, Presco Plc, Vitafoam Plc and C&I Leasing Plc also gained 50 kobo, 31 kobo, 26 kobo, 25 kobo, 23 kobo and 12 kobo to close at N43.00, N6.64, N5.46, N5.25, N4.98 and N2.57 per share
Conoil Plc hit the top on the losers' table, dropping N1.58 to close at N30.08 per share, followed by UACN with 150 kobo to close at N36.50 per share. Zenith bank lost 68 kobo to close at N13.07 per share; Ashakacem trailed, dropping 61 kobo to close at N11.68. UBA was the last on top five losers' table, losing 53 kobo to close at N11.10 per share.
The banking sub-sector dominated activities on the sectoral chart, accounting for 132.7 million shares worth N1.1 billion exchanged in 3,284 deals.
The insurance sub-sector followed with traded volume of 72.2 million shares valued at N56.1 million done in 589 deals.
First Bank Plc posted 21.697 million shares valued at N303.9 million exchanged by investors in 868 deals to top others on banking sub-sector, while Cornerstone Insurance accounted for 18.2 million shares worth N11.4 million in 24 deals.
In all, investors bought 261.5 million shares valued at N1.8 billion done in 5,807 deals.
The Guardian Newspapers, Tuesday December 1, 2009.
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