2 August 2014

Nigeria: Major Quoted Firms Record Huge Price Slides At Stock Exchange

Trading on the Nigerian Stock Exchange, NSE, on Friday closed on a downside as some highly capitalized stocks recorded huge price depreciation as their profits took sustained decline from investors' takings.

Notable among the big losers included Nestle PLC, which topped the price losers' chart with a loss of about N14 to close at N1,106 per share.

Seplat Energy lost N10.62 to close at N659.38, while Mobil Oil and GTBank depreciated by N1.1 each to close at N160 and N28.8 per share respectively.

Presco Insurance decreased by N1.01 to close at N37 per share.

On the flip side, Forte Oil led the gainers' table for the second consecutive day with N10.9 to close at N228.9 per share, while Flour Mill followed with a gain of N3.69 to close at N77.67, while Ashaka Cement grew by N1.92 to close at N33 per share.

Okomu Oil also gained 42k to close at N33.22, while ETI appreciated by 37k to close at N16.87 per share.

Meanwhile, the All-Share Index, ASI lost 163.06 points, or 0.39 per cent to close at 41,934.43 against the 42,097.49 recorded on Thursday.

The market capitalisation dipped by N54 billion, or 0.39 per cent to close at N13.846 trillion compared with N13.900 trillion achieved on Thursday.

In all, investors staked N5.939 billion on 276.500 million shares in 4,997 deals, representing a decrease of 22.06 per cent.

This was against 354.760 million shares worth N6.91 billion traded in 6,248 deals on Thursday.

The financial services sector remained the toast of investors, with GTBank emerging the most traded equity with 55.047 million shares worth N1.61 billion.

Transcorp came a close second with 30.45 million shares valued at N167.61 million, while Zenith Bank sold 18.49 million shares worth N462.78 million.

Skye Bank accounted for 16.99 million shares valued at N51.21 million, while FBN Holdings traded 13.11 million shares valued at N189.37 million.



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