News Column

Stock Exchange Reopens

July 28, 2014



Trading floors of Nigerian Stock Exchange (NSE) centres in the country resumed equities transactions on Friday after closure on Thursday following technical problems.

At the day's activities, NSE's Head of Market Operations, Mr Ade Ewuosho, said that one hour extension would be given for transaction, explaining that it was to give stock brokers opportunity to make up for Thursday's "loss".

However, equity transactions closed on a poor trend with the market capitalisation depreciating by N86 billion or 0.61 per cent as major stocks recorded price losses.

The News Agency of Nigerian (NAN) reports that the market capitalisation closed at N13.962 trillion from the N14.048 trillion recorded on Wednesday.

Also, the All-Share Index which opened at 42,544.33 dropped by 258.51 points to close at 42,285.82.

Total Oil led the losers' chart, losing N9.28 to close at N176.45 per share.

Mobil depreciated by N8.49 to close at N161.41 while Forte Oil lost N8.23 close at N216 per share.

Dangote Cement dipped by N5.5 to close at N232 while Flour Mill fell by N3.89 to close at N73.98 per share.

Conversely, Lafarge Wapco led the gainers' chart with a gain of N1.68 and closed the day's trading at N118.95 per share.

Stanbic IBTC followed with a gain of N1.59 to close at N29.09 while CCNN and GTBank grew by 9k each to close at N14.17 and N3 per share, respectively.

Portpaint also appreciated by 4k to close at N5.22 per share.

GTBank emerged as the most traded stock, accounting for 155.22 million shares worth N4.66 billion of the day's transactions.

Dangote Cement traded 87.09 million shares valued at N18.72 billion while Transcorp sold 48.96 million shares worth N264.25 million.

Diamond Bank traded 20.38 million shares valued at N136.56 million while Access bank's stock accounted for 420.35 million shares worth N202.11 million.

In all, investors exchanged a total of 536.869 million shares worth N26.62 billion in 7,048 deals, representing 96.31 per cent growth.

This was against the 273.484 million shares valued at N3.076 billion traded in 4,766 deals on Wednesday.


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Source: AllAfrica


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