20 December 2012

Nigeria: Stock Market Down By N29 Billion

Equity transactions on the trading floor of the Nigerian Stock Exchange yesterday further closed in the red following heavy share price losses recorded by most highly capitalised stocks, as profit taking by investors persisted.

At the close of trading, volume of shares traded climbed significantly, as 317.4 million shares worth N2.5 billion was exchanged in 3,819 deals, higher than 255.7million units worth N2.7 billion traded in 4,933 deals on Tuesday..

Specifically, at close of transactions in the day, 23 companies, comprising of penny and blue chip stocks depreciated in price, against 27 less capitalised ones that constituted the gainers' table.

Specifically, corporate performance indices or All-share index of the Exchange depreciated by 88.65 points or 0.32 per cent, from 27,437.76 recorded when the market closed on Tuesday to 27,349.11 while market capitalisation dipped by N29billion or 0.33 per cent, from N8.767 trillion to N8.738trillion.

On the price movement chart, DN MEYER Plc emerged the day's highest price loser, dropping, 9.73 per cent to close at N1.67 per share. Academy Press Plc followed, depreciating 9.50 per cent to close at N1.62 per share.

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