13 November 2012

Nigeria: NSE Market Indicators Drop By 1.2 Percent

Lagos — Transactions on the Nigerian Stock Exchange (NSE) on Tuesday remained on a downward trend with the market indices dropping by 1.2 per cent.

The All-Share Index lost 318.92 points to close at 26,290.41. This was against 26,609.33 posted at the close of trading on Monday as a result of price losses by highly capitalised equities.

Also, the market capitalisation dropped by N102 billion or 1.2 per cent to close at N8.38 trillion against N8.48 trillion recorded on Monday.

Nestle recorded the highest price loss for the day dropping by N48.50 to close at N581 per share. It was followed by the Nigerian Breweries with a loss of N2.41 to close at N134.06, while Julius Berger lost N1.51 to close at N29.10 per share.

7UP lost 95k to close at N40, while Okomu Oil dropped by 50k to close at N34 per share. Conversely, NewGold topped the gainers' chart with N11 to close at N2, 651 per unit.

Also, the Flour Mill followed gaining N3.15 to close at N66.15, while Oando gained 20k to close at N12 per share. The Air Service appreciated by 12k to close at N2.62 with Wapco gaining 11k to close N57.62 per share.

In spite of the drop in the market indices, volume of shares traded appreciated by 19.85 per cent with 258.58 million shares worth N2.23 billion exchanged in 4,577 deals.

This was in contrast with 215.76 billion shares valued at N1.63 billion traded in 3,857 deals on Monday. NAN

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