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Wednesday, 19 October 2016

Nigerian Stock Market indices, volume suffer further depreciation

Activities on the Nigerian Stock Exchange on Wednesday, for the third consecutive day, remained on a negative trend with indices dropping by 0.28 per cent.
The News Agency of Nigeria reports that the volume of shares traded declined by 46.87 per cent.
NAN also reports that the market capitalisation dropped further by N26 billion or 0.28 per cent to close at N9.438 trillion against N9.464 trillion recorded on Tuesday.
Also, the All-Share Index, which opened at 27,555.31, shed 77.27 points or 0.28 per cent to close at 27,478.04 as a result of price loses.
Total recorded the highest price loss to lead the laggards’ chart, shedding N13.97 to close at N290 per share.
It was followed by Forte Oil which lost N10.57 to close at N127.30, while Ashaka Cement dipped N1.46 to close at N13.57 per share.
The International Breweries dropped 99k to close at N19 and Glaxosmithkline depreciated by 83k to close at N15.78 per share.
Conversely, Stanbic IBTC led the gainers’ table, growing by 50k to close at N17 per share.
NAN reports that CAP also appreciated by 50k to close at N33.75 per share and Lafarge Africa rose by 30k to close at N43 per share.
Flour Mills increased by 23k to close at N20 and Vitafoam advanced by 3k to close at N2.58 per share.
NAN reports that the liquidity challenge was taking toll on the volume and value of shares traded as investors staked N592.52 million on 81.91 million shares achieved in 2,520 deals.
This was in contrast with a turnover of 154.16 million shares valued at N1.62 billion transacted in 2,510 deals on Tuesday.
FCMB Group was investors’ delight, exchanging 16.44 million shares worth N18.04 million.
Transcorp came second with 8.57 million shares valued at N8.52 million, while United Capital sold 7.65 million shares worth N19.79 million.
The United Bank for Africa exchanged 7.02 million shares valued at N29.52 million, while Fidelity Bank accounted for 6.11 million shares worth N5.20 million.

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