16 February 2011

Nigeria: Stock Market - Investment Value Shed 28 Billion

The value of investment on the Nigerian Stock Exchange (NSE) resumed Monday on a bearish not as the market capitalisation dipped by N27.51 billion.

In particular, equities value represented by the market capitalisation dropped by 0.32 per cent to close at N8.501 trillion from N8.528 trillion at which it opened. Another key performance indices the All share index dropped by 0.32 per cent or 86.68 bases points to close at 26,598.41 points from 26,684.49 points.

A turnover of 281.68 million shares valued at N1.93 billion was recorded in 4,991deals, compared to Friday's turnover of 243.39 million shares valued at N2.32 billion in 5,233 deals.

The Banking sub-sector dominated the other sub-sector on the sectorial analysis accounting for 56.37 per cent of the market turnover with 158.80 million shares valued at N987.09 million in 3,135 deals.

Unity Bank Plc was the most active in the sub-sector trading 23.60 million shares valued at N34.18 million in 91 deals, Sterling Bank Plc followed with the exchange of 17.63 million shares valued at N41.43 million in 101 deals and Finbank Plc recorded 13.75 million shares valued at N14.68 million in 134 deals.

The Building Materials sub-sector trailed on the sectorial analysis accounting for 4.76 per cent of the market turnover with 13.40 million shares valued at N567.04 million in 100 deals. Lafarge Cement WAPCO Plc recorded the highest patronage in the sub-sector trading 12.42 million shares valued at N531.30 million in 28 deals, Ashaka Cement Plc followed with the exchange of 696,665 shares valued at N19.63 million in 40 deals and Cement Company of Northern Nigeria Plc recorded 180,942 shares valued at N2.55 million in seven deals.

Livestock Feeds Pls led on the losers table dropping by N0.03 to close at N0.57 per share, Skye Bank Plc followed with a loss of N0.50 to close at N9.50 per share and Fidson Health Care Plc dipped by N0.13 to close at N2.51 per share.

On the contrary, Custodian and Allied Insurance Company Plc led on the gainers table with N0.16 gain to close at N3.36 per share, Bags Manufacturing Company Plc followed with a gain of N0.15 to close at N3.18 per share and Wema Bank Plc garnered N0.07 to close at N1.52 per share.

NSE 30 which measures the performance of blue chips in the market dropped by 0.35 per cent, NSE Oil and Gas dropped the highest points by 0.44 per cent, NSE Food and Beverages dropped by 0.33 per cent and NSE Banking moved down by 0.33 per cent while NSE Insurance appreciated by 0.68 per cent.

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