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Friday, April 26, 2013

Market capitalisation falls by N36bn

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Market capitalisation falls by N36bn
Apr 26th 2013, 23:26

Equity trading activities on the Nigerian Stock Exchange witnessed weak bargain on Friday, with major indicators losing marginally.

The market capitalisation of the listed shares fell by 0.3 per cent or N36bn from N10.638tn to close at N10.602tn on Friday.

Similarly, the NSE's All-Share Index, dropped by 0.3 per cent or 112.26 basis points from 33,271.34 on Thursday's close to 33,159.08 points.

The NSE-30 Index was down by 0.4 per cent to close at 1,583.57 basis points, from 1,590.36 recorded the previous day.

 The consumer goods index dropped by 0.3 per cent to close at 957.02 basis points, while the banking index lost 0.3 per cent or 1.32 basis points to close at 388.09 points.

 The banking sub-sector maintained its lead on the activity chart, accounting for 60 per cent of total turnover traded.

In the sub-sector, 73.512 million shares, valued at N719m were exchanged by investors in 1,743 transactions.

Trading in the shares of Skye Bank Plc and Guaranty Trust Bank Plc drove volume in the sub-sector.

Other companies that recorded high turnover in the sub-sector included Sterling Bank Plc, Unity Bank Plc, Zenith Bank Plc; Ecobank Transnational Incorporated Plc and Access Bank Plc.

A total of 22 stocks recorded price appreciation, while 26 stocks recorded price depreciation.

John Holt Plc led the price gainers' chart, rising by 10 per cent or 14 kobo to close at N1.54 per share. Ikeja Hotel Plc followed closely on the chart, also rising by 10 per cent or seven kobo to close at 77 kobo per share.

RT Briscoe Plc and UTC Plc gained 9.8 per cent and 9.5 per cent to close at N2 and 69 kobo per share respectively, while Unity Bank Plc and Aiico Insurance Plc added 6.4 per cent and 6.2 per cent to close at 66 kobo and 86 kobo per share in that order.

Cutix Plc, on the other hand led the price losers' shedding 10 per cent or 18 kobo to close at N1.62 per share.

Neimeth International Pharmacy Plc and Air Service and Logistics Plc shed 9.8 per cent each to close at 82 kobo and N3.29 per share respectively.

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