13 November 2012

Nigeria: Stock Market Closes Southwards

Transactions on the floor of the Nigerian Stock Exchange closed in the red following price losses suffered by major bluechip stocks. This was evidence as the day's transaction further pulled down market capitalisation by N35billion.

Consequently, market capitalisation fell from N8514trillion recorded on Friday to N8479 trillion while the All-share index dropped by 108.96 points from 26,718.30 to 26,609.34.

On the price movement chart, 28 companied depreciated in price, led by Japauloil&Maritime with five per cent to close at N0.57 per share, followed by CAP with 4.99 per cent to close at N28.35 per share.

Neimeth lost 4.63 per cent to close at N1.03 per share while Unite Bank for Africa shed 4.61 per cent to close at N4.76 per share. Cement Company of Northern Nigeria lost 3.81 per cent to close at N5.30 per share.

NEM insurance and Wema Bank shed 3.70 per cent to close at N0.52 and N0.52 per share respectively.

Intercontinental WAPIC and Oando dropped 3.57 and 3.28 per cent to close at N0.54 and N11.80 per share.

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