News Column

Stock Market Commenced Trading With 0.04 Percent Loss

May 20, 2014

After recording a week-on-week performance of 1.10 per cent, following gains recorded in four trading sessions the previous week, the Nigerian equities market started the week on a poor note yesterday with a loss of 0.04 per cent.

Fuelled by the news of its planned acquisition of Consolidated Breweries Plc, Nigerian Breweries Plc had recorded the most gain last week with a 9.4 per cent week on week rise while Mobil Oil Nigeria Plc was the biggest loser, bottoming out at 12.37 per cent.

At the close of business yesterday, the Nigerian Stock Exchange (NSE) All Share or ASI depreciated by 0.17 per cent to close at 39,007.40 points from 39,022.10 attained last Friday.

Also, the market capitalisation of listed equities decreased to N12.848 trillion from N12.853 trillion last Friday.

Similarly, trading activities depreciated by 53.37 per cent as investors bought 206.69 million shares worth N2.73 billion, in 4,406 deals, compared to 443.22 million shares worth N3.76 billion, in in 4,571 deals exchanged last Friday.

The banking sector of the Financial Service sector remained the most active in terms of the volume of shares sold. It led the equities sector with a total of 104.29 milion ordinary shares valued at N1.32 billion made in 1,496 deals.

Access Bank Plc, Zenith Bank Plc, and FBN Holdings Plc were the most actively traded stocks on the exchange yesterday in terms of volume, while Zenith Bank Plc, Access Bank Plc, and Nigerian Breweries Plc topped the list in terms of value.

A total number of 23 stocks gained on the bourse yesterday while 26 stocks declined leaving 77 stocks unchanged.

Custodian and Allied Insurance Plc emerged top on the gainers list appreciating by 4.71 per cent to close at N2.55, followed by Continental Reinsurance Plc, which gained 3.92 per cent to close at N1.06. Others on the gainers chart include Livestock Feeds Plc, Ashaka Cem Plc, and Flour Mills Nigeria Plc.

On the flip side, Nigerian Aviation Handling Company Plc topped the losers chat with a 7.25 per cent decline to close at N4.86, followed closely by FCMB Group Plc, which declined by 7.21 per cent to close at N3.99. Others on the losers chart include National Salt Company Nigeria Plc, Wapic Insurance Plc and Skye Bank Plc.

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Source: AllAfrica

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