24 January 2018

Nigeria: Profit Taking Depresses Stock Market Indices Further By N187 Billion

The equities market extended losses from the previous trading session yesterday, as heavy share prices suffered by virtually all the blue chip stocks depressed market indices further by N187billion.

Yesterday, the All-share index, which measures the performance of listed firms' dropped by 522.68 points or 1.2 per cent from 44,912.53 recorded on Monday to 44,389.85.Also, market capitalisation of listed equities depreciated by N187billion from N16.089trillion to N15.902trillion.

About 43 stocks depreciated in price yesterday, as Mobil Oil topped the losers' chart with 7.00 kobo to close at N209.00 per share. Dangote Cement followed with 4.00 kobo to close at N269.00 per share.

Julius Berger lost 1.60 kobo to close at N30.40 per share. Guaranty Trust Bank shed 1.51 kobo to close at N52.00 per share. Zenith Bank dropped 0.75 kobo to close at N32.00 per share.

FBN Holdings lost 0.73 kobo to close at N13.02 per share. United Bank for Africa dropped 0.64 kobo to close at N12.25 per share. Dangote Flourmills shed 0.40 kobo to close at N15.00 per share.

Fidelity Bank dropped 0.36 kobo to close at N3.57 per share. Nigerian Aviation Handling Company lost 0.21 kobo to close at N4.06per share. Union Bank depreciated by 0.34 kobo to close at N7.66 per share. Redstar Express dropped 0.30 kobo to close at N5.70 per share.

However, 14 stocks constituted the gainers' chart, led by Seplat with 9.99 per cent to close at N675.01 per share, while Unilever followed with 2.21 kobo to close at N46.41 per share. Nigerian Breweries added 2.00 kobo to close at N145.00 per share. Presco garnered 1.31 kobo to close at N70.00 per share.

Nestle appreciated by 1.11 kobo to close at N147.11 per share. Ecobank TransNational Incorporated garnered 0.65 kobo to close at N20.20 per share. National Salt Company of Nigeria added 0.49 kobo to close at N20.00 per share. Caverton gained 0.24 kobo to close atN2.68 per share.

UAC-Properties gained 0.15 kobo to close at N3.15 per share. Unity Bank also gained 0.12 kobo to close at N1.42 per share.Skye Bank was investors' delight in volume terms yesterday with 150.4 million shares worth N226million. FBN Holdings followed with 104 million units worth N1.4billion.

Wema Bank accounted for 64 million shares valued at N87million. Diamond Bank traded 44 million shares worth N144million. TransNational Corporation accounted for 43 million shares valued at N94million.Investors exchanged 737 million shares worth N7.7billion in 8,927 deals lower than 4.44 billion units valued at N15.93billion exchanged in 8,572 deals on Monday.


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