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Nigeria: NSE, Index, Capitalisation Dip Further By 0.76 Percent
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Vanguard (Lagos)
1 May 2008
Posted to the web 1 May 2008
Micheal Eboh
Lagos
The declining fortune of the performance indices continued on Tuesday, as the All-share index and market capitalisation both dropped by 0.76 per cent.
Particularly, the index which opened at 60,122.77 points closed at 59,663.22 points while the capitalisation closed at N11.53 trillion from N1162 trillion at which it opened.
The drop in the indices was as a result of losses recorded on the share prices of blue chip companies, with Nestle Nigeria Plc recording the highest share price loss, dropping by N8.00 to close at N218.00 per share from N226.00 per share at which it opened, Ecobank Transnational Incorporated followed with a loss of 3.40 to close at N246.50 per share and Lafarge West African Portland Cement Company Plc dipped by N2.99 to close at N56.86 per share.
Other share price losers include: Union Bank of Nigeria Plc N1.91, Eterna Oil and Gas Plc N1.89, First Bank of Nigeria Plc N1.78, Okomu Oil Palm Plc N1.59, Ashaka Cement Plc N1.45, Nigerian aviation Handling Company Plc N1.14, Oando Plc N1.13 among others.
Conversely, Total Nigeria Plc recorded the highest share price gain, rising by N10.75 to close at N239.95 per share, followed by Flour Mills Nigeria Plc with a gain of N3.32 to close at N89.32 per share and Nigeria Bottling Company Plc garnered N2.58 to close at N61.00 per share. Other share price gainers include: Benue Cement Company Plc N2.16, Seven-up Bottling Company Plc N1.40, G. Cappa Plc N1.35, Nigeria-German Chemical Plc N1.19, Unilever Nigeria Plc N1.14, Arbico Plc N1.01, Afribank Plc N1.00 among others.
A turnover of 689.90 million shares valued at N12.20 billion was recorded in 17,963 deals, representing an appreciation of 12.82 per cent from the previous day's turnover of 611.51 million shares valued at N11.01 billion in 17,589 deals.
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the Banking sub-sector, driven by activity in the shares of First Inland Bank Plc, dominated the other sub-sectors, accounting for 57.63 per cent of the market turnover with 397.6 million shares valued at N8.95 billion in 8,574 deals. First Inland Bank Plc recorded the highest transaction in the sub-sector, trading 106.41 million shares valued at N1.11 billion in 309 deals, followed by GT Bank Plc with a turnover of 37.51 million shares valued at N1.26 billion in 1,000 deals and Fidelity Bank Plc recorded 34.03 million shares valued at N360.77 million in 461 deals.
The Insurance sub-sector followed on the sectorial analysis, accounting for 23.97 per cent of the market turnover with 165.35 million shares valued at N695.47 million in 3,274 deals.
Universal Insurance continued domination of transaction in the sub-sector with a turnover s39.93 million shares valued at N119.5 million in 1,061 deals, followed by AIICO Insurance Plc with the exchange of 34..23 million shares valued at N183.78 million in 218 deals and Goldlink Insurance Plc recorded 14.35 million shares valued at N49.71 million in 193 deals.
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