Leadership (Abuja)
9 January 2009
A further dip in share prices of most of the quoted companies across various sub-sectors yesterday dragged the equity indicators- market capitalisation of all listed equities and all share index down by 1.7 per cent.
Specifically, the market capitalisation which opened transactions at N6.454 trillion dipped by N107 billion to close at N6.347 trillion, while the all share index which opened at 29,176.80 points dropped by 486 basis points to close at 28,690.80 points.
60 companies depreciated in price as against 16 that gained weight, with Chevron Oil leading the losers' table with a price loss of N8.00 to close at N152.00 per share. Guinness Nigeria Plc followed with a loss of N4.42 to close at N84.08 per share. Nigerian Bottling Company (NBC) declined by N1.75 to close at N33.34 per share, Okomu Oil lost N1.63 to close at N31.16, while Flourmill that closed the list of top five losers depreciated by N1.48 to close at N28.31 per share.
On the other hand, Oando led on the price gainers table, rising by N3.72 to close at N78.27, followed by Ashakacem with gain of N0.75 gain to close at N17.00 per share and Glaxosmith that garnered N0.59 to close at N12.56. PZ Cusson and United bank for Africa (UBA) were the last on the gainers table as they rose by N0.49 and N0.34 to close at N13.49 and N12.26 respectively.
However, a turn-over of 168.9 million units of shares worth N1.4 billion exchanged in 6,653 deals was recorded.
The banking sub-sector emerged the investors' toast, trading 96.9 million shares worth N920.2 million done in 3,691 deals. The insurance sub-sector followed with traded volume of 16.3 million ordinary shares valued at N21.1 million which exchanged hands in 434 deals, while the conglomerates sub-sector closed as the third most traded sub-sector with turn-over of 13.25 million shares worth N122.6 million done in 168 deals.
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