9 January 2013

Nigeria: NSE Market Capitalisation Loses N43 Billion to Profit-Taking

Transactions on Nigerian Stock Exchange on Wednesday bowed to profit-taking with the market capitalisation dropping by N43 billion. The News Agency of Nigeria (NAN) reports that the market capitalisation, which opened at N9.297 trillion depreciated by 0.46 per cent to close at N9.254 trillion.

The All-Share Index lost 132.68 points, which represented 0.46 per cent, to close at 28,956.83 against the 29,089.51 posted on Tuesday. Nigerian Breweries led the price losers' chart with N4.85 to close at N145.65 per share. It was trailed by Presco with a loss of N1.90 to close at N20.50, while National Salt lost 44k to close at N8.30 per share.

Stanbic dropped 33k to close at N11.21, while FBNH dipped by 26k to close at N17.25 per share. Conversely, NewGold, for the second consecutive day, led the gainers' chart, appreciating by N13 to close at N2,535 per unit.

Nestle came second with N3.50 to close at N710 per share, while Okomu Oil gained N2.15 to close at N49 per share. Lafarge Wapco gained N1.90 to close at N55.90 and was followed by Ashaka Cement with N1.71 to close at N20.69 per share.

The financial services sector was investors' delight, accounting for 335.08 million shares worth N2.72 billion traded in 3,396 deals. UBA drove activity in the sector with 147.58 million shares valued at N832.86 million traded in 147.58 deals.

In all, investors exchanged 455.81 million shares worth N4.06 billion in 6,980 deals. This is against the 529.79 million shares valued at N3.71 billion traded in 6,858 deals on Tuesday. (NAN)

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