Leadership (Abuja)
Nkiruka Anene
12 November 2009
Lagos — The bears continued their tight grip on the equity sector of the Nigerian Stock Exchange (NSE), as price lossers continued to outweigh gainers, causing market indices to slide further by 0.04 per cent.
Specifically, at the end of trading yesterday, 44 stocks constituted the losers' chart, while only 23 stocks recorded price gains. Consequently, the value of listed equities dipped by just N2 billion to close at N5.2 trillion from the previous N5.4 trillion.
Similarly, the corresponding measurement indices, all-share index, slipped by 8.45 basis points or 0.04 points to close at 21,204.51 points from 21,212.96 points. Breweries stocks, Nigerian Breweries and 7-up Bottling Company led the losers' table, declining by N1.88k and N1.45k to close at N55.12k and N27.55k per share respectively.
Ecobank ranked third with 83k loss to close at N15.96k per share, Nestle depreciated by 59k to close at N235.34k, while UACN lost 50k to close at N40.50k per share.
On the other hand, manufacturing giant, Flourmill, topped the gainers' chart, rising by N1.50k to close at N33, followed by Guaranty Trust Bank with 76k increase to close at N16.15k per share. Also, Julius Berger appreciated by 50k to close at N28.50k per share, Dangsugar garnered 31k to close at N14.61k. Union Bank of Nigeria (UBN), that closed the list of top five gainers' table, chalked 27k to close at N5.86k per share.
The banking sub-sector dominated the activity on the sectoral chart, trading 218.72 million ordinary shares worth N2.11 billion exchanged in 3,298 deals, followed by insurance sub-sector with a traded volume of 34.4 million shares valued at N32.8 million done in 365 deals. The conglomerate sub-sector closed as the third most active sub-sector, accounting for 11.6 million shares, valued at N220.9 million which exchanged hands in 201 deals.
United Bank for Africa (UBA), led the activity in the banking sub-sector with 59.4 million shares valued at N691.94 million exchanged in 258 deals, while FirstBank of Nigeria followed with 58.9 million shares worth N810.64 million, done in 834 deals. Aiico Insurance was the most active in the insurance sub-sector as a turnover of 17.81 million shares valued at N15.95 million were exchanged in the company in 177 deals, while Unilever propelled activity in the conglomerates sub-sector with traded volume of 9.8 million ordinary shares valued at N187.92 million in 95 deals.
On the whole, investors staked N2.93 billion on 311.4 million shares in 5,653 deals.
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