27 October 2017

Nigeria: NSE's Market Capitalisation Plummets By N37 Billion

Price losses outweighed gains on the equity sector of the Nigerian Stock Exchange, as many highly capitalised stocks depreciated in price, causing market capitalisation to slide marginally N37 billion.

Yesterday, 27 stocks constituted the losers chart, led by Nigerian Breweries shedding N6.00 to close at N155.00 per share, International Breweries trailed with a loss of N2.72 kobo to close at N51.78 kobo, while Forte Oil depreciated by N2.12 kobo to close at N40.30 per share.

PZ Cussons industries declined by N1.00 to close at N23.00 per share, Cement Company of Northern Nigeria dropped N0 47 kobo to close at N9.70 per share, while Mobil oil shed 0.40 kobo to close at N155.60 per share.

Guaranty Trust Bank dropped 0.30 kobo to close at N41.70 per share. Berger paints depreciated by 0.20 kobo to close at N7.00 per share. AfriPrud lost 0.18 kobo to close at N3.70 per share. May&Baker also shed 0.13 kobo to close at N2.57 per share.

On the other hand, National Salt Company of Nigeria led the gainers' table with N1.55 kobo to close at N16.77 kobo, Presco Plc followed with gain of N1.50 kobo to close at N66.50 per share.

Lafarge Wapco rose by N1.46 kobo to close at N52.00, Dangote Sugar Refinery Nigeria Plc added N2.20 kobo to close at 15.84 kobo, Dangote Flour Nigeria Plc advanced by N0.76 kobo to close at N8.26 kobo.

Guinness appreciated by 0.65 kobo to close at N101.00 per share. Cadbury added 0.50 kobo to close at N10.65 per share. Fidson gained 0.18 kobo to close at N3.87 per share. Vitafoam garnered 0.13 kobo to close at N2.83 per share. Eternaoil also appreciated by 0.10 kobo to close at N3.58 per share.

Consequently, market capitalisation of listed equities fell by N37 billion to N12.638 trillion from N12.675 trillion recorded on Wednesday. The NSE All Share Index declined by 105.37 basis points to 36517.48 point from 36622.85 traded the previous day.

Investors traded 356.807 million shares worth N4.224 billion in 4384 deals as against 332.996 million worth N4.661 billion recorded in 3577 deals the previous day.

Further breakdown showed that United Bank for Africa of the banking industry was the toast of investors during the day, trading 90.520 million shares worth N842.007 million, Fidelity Bank followed with an account of 37.074 million shares valued at N62.420 million.

Custodian and Allied Insurance traded 35.535 million shares cost N142.101 million, FCMB group sold 31.722 million shares valued at N33.281 million while Access Bank exchanged 25.314 million shares valued at N249.618 million.


More Nigerians Seeking Greener Pastures Abroad

There are indications that over 500,000 Nigerians have emigrated from the country since 2016. Read more »

See What Everyone is Watching

Copyright © 2017 The Guardian. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.