Leadership (Abuja)
Nkiruka Anene
5 November 2009
Lagos — The bears' reign at the Nigerian Stock Exchange continued yesterday with the performance indicators sliding further by 0.3 per cent.
Specifically, the value of listed equities shed N14 billion to close at N5.002 trillion, from the previous N5.016 occasioned by losses on the share prices of several blue chip companies.
Similarly, the all share index which opened at 21,263.30 points, nose-dived by 60.71 points to close at 21,202.59 points.
45 companies depreciated in price to further depress the indicators, while 24 stocks occupied the gainers' table.
Food manufacturing giant, flourmill Nigeria Plc., led the losers' chart, dropping by N1.87k to close at N35.65k, followed by African Petroleum which lost N1.69k to close at N32.36k per share.
Other share losers on the top five categories include; Julius berger, with a loss of N1.34k to close at N25.57k, Ecobank 92k to close at N17.67k, while Nigerian Breweries and Nigropes declined by 50k apiece to close at N53.50k and N9.62k respectively.
Conversely, Unilever Plc., led the gainers for the second day running, appreciating by 83k to close at N17.44k, while Guaranty Trust Bank chalked 65k to close at N15.90k per share. Lafarge WAPCO gained 55k to close at N30, DangSugar went up by N50 to close at N15.50k, while Benue Cement Company (BCC), that was the last on the top five gainers' table added 47k to close at N42.50k per share.
The banking sub-sector maintained dominance on the sectoral chart, accounting for 582.7 million ordinary shares, valued at N2.3 billion done in 3,187 deals, while the insurance sub-sector followed with a traded volume of 36.32 million shares worth N27.84 million, exchanged by investors in 364 deals.
Oceanic Bank propelled volume in the banking sub-sector as investors bought 394.21 milion shares valued at N816 million in 96 deals. The high volume churned out in the bank was attributed to cross-dealing in the shares of the bank.
Standard Alliance topped others in the insurance sub-sector with 7.9 million ordinary shares, valued at N6.8 million, which changed hands in 48 deals.
In all, investors bought 688.8 million ordinary shares worth N3.2 billion in 5,779 deals.
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