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Equities value falls by N208bn

By on December 4, 2014

The Nigerian Stock Exchange closed on a negative note on Monday as the market capitalisation of the listed equities fell by N208bn or 1.82 per cent from N11.404tn to N11.196tn.

Also, the NSE All Share Index declined by 1.82 per cent or 628.8 basis points to close at 33,914.25 basis points, compared to the 0.47 per cent depreciation it recorded on Friday to close at 34,543.05 basis points.

The NSE 30 Index, which tracks the performance of the 30 most capitalised companies on the Exchange, fell by 27.14 basis points or 1.7 per cent to 1,548.73 basis points, while the NSE Lotus Islamic Index was down by 30.01 basis points or 1.4 per cent to 2,120.12 basis points.

The NSE Alternative Securities Market, however, closed flat at 1,036.13 basis points.

A review of the five NSE sectoral indices showed that with the exception of the Insurance Index, which gained 4.15 basis points or 2.8 per cent, all the other sectoral indices depreciated on Monday.

Only 17 stocks recorded gains on Monday, while 33 others declined in value.

Mansard Insurance Plc led the gainers table, rising by 8.25 per cent or 26 kobo to close at N3.41 per share.

Cadbury Nigeria Plc followed with a 4.99 per cent or N2.17 appreciation to close at N45.67 per share.

Costain (West Africa) Plc rose by 4.95 per cent or five kobo to close at N1.06 per share, while Presco Plc gained 4.86 per cent or N1.40 to close at N30.20 per share.

On the flipside, Oando Plc was the day’s top loser. It fell by 9.44 per cent or N1.96 to close at N18.80 per share; followed by United Bank for Africa Plc, which fell by N6.24 per share or 32 kobo to close at N4.81 per share.

Analysts at Vetiva Capital Management Limited had projected that equities would start this week on a negative note.

In their market commentary for the week ended November 28, they said, “With heightened macroeconomic concerns due to the continued drop in oil prices and sustained pressure on the FX, we expect a bearish week start in the equity market.”

In all, 213.606 million shares worth N4.435bn were traded on Monday in 4,398 deals.

According to the Exchange, the most traded equities were Stanbic IBTC Group Plc and Transnational Corporation of Nigeria Plc.

 

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