NSE’s indices depreciate further by N61 billion

Equity transactions on the floor of Nigerian Stock Exchange continued on a downward note yesterday, as virtually all the bluechip companies suffered price depreciation, causing market capitalisation to slide further by N61 billion.

Yesterday, the All Share Index declined by 176.59 basis points or 0.60 per cent to 29396.31 basis points from 29572.90 points traded on Tuesday.

Also the market capitalisation shed weight N61 billion to close at N10.102 trillion from N10.163 trillion recorded the previous day.
Investors for the day traded 336.280 million shares worth N1.913 billion in 2923 deals against 141.270 million shares valued at N1.361 billion in 3218 deals.

A breakdown of the investment showed that ‎33 stocks depreciated in price, as Guinness Nigeria PLc led losers chart, dropping by N6.75 kobo to close at N128.34 kobo, Lafarge Wapco trailed with a loss of N2.20 kobo to close at N95.80 kobo, Stanbic IBTC failed by N1.56 kobo to close at N19.20 kobo.

Other companies that recorded price depreciation were Oando Plc and International Breweries, which shed N0.78 kobo and N0.51 kobo respectively to close at N7.35 kobo and N16.00.
UAC-Properties lost 0.40kobo to close at N7.75 per share. FBN Holdings shed 0.27 kobo to close at N5.20 per share.
National sALT Company of Northeren Nigeria also dropped 0.23 kobo to close at N7.08 per share.

Conversely, ‎ Seplat Petroleum Development recorded the highest gain for the day, improving by N3.00 to close at N238.00, Dangote Cement followed with a gain of N1.50 kobo to close at N165.00, Ashaka Cement Nigeria Plc appreciated by N0.90 kobo to close at N23.00, Cadbury Nigeria Plc increased by N0.15 kobo to close at N20.15 Fidson gained N0.10 kobo to close at N3.10 kobo.
Further analysis indicated that Sterling Bank of the Banking subsector led activities for the day, trading 253.906 million shares worth N495.138 million, Zenith International Bank followed with account of 20.298 million shares valued at N354.868 million, Transnational Corporation of Nigeria sold 16.328 million shares cost N32.120 million, FBNHoldings exchanged 15.954 million shares valued at N83.376 million while UBA traded 10.085 million shares worth N36.996 million.