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NSE index sheds 0.46% as 36 stocks fall

By on December 10, 2014

The equities segment of the Nigerian Stock Exchange opened the week on a negative note as 36 equities recorded losses, compared to 10 gainers.

Consequently, with the exception of the NSE Oil and Gas Index which rose by 4.83 basis points or 1.17 per cent and the NSE Alternative Securities Market Index that closed flat at 1,036.13 basis points, all other market indicators fell.

For instance, the NSE All Share Index shed 0.46 per cent or 152.58 basis points from 33,228.29 basis points to 33,075.71 basis points.

Similarly, the market capitalisation of the listed equities declined by N51bn or 0.46 per cent to close at N10.919tn, compared to the N18bn or 0.16 per cent appreciation recorded on Friday that lifted the market capitalisation to N10.970tn.

Also, the NSE 30 Index, which tracks the performance of the top 30 companies on the Exchange, fell by 8.77 basis points or 0.58 per cent from 1,516.67 basis points to 1,507.90 basis points.

A total of 314.108 million equities valued at N4.374bn were exchanged by investors in 4,027 deals compared to the 293.666 million shares worth N3.504bn that were traded in 4,107 deals on Friday.

The banking sub-sector maintained its lead on the activity chart, accounting for 71.6 per cent of total turnover traded.

Volume in the sub-sector was driven by activity in the shares of Sterling Bank Plc and Guaranty Trust Bank Plc. Both banks contributed 75 per cent of the sub-sectors turnover.

According to the Exchange, the most traded stocks on Monday are Sterling Bank, Guaranty Trust Bank, FBN Holdings Plc, Transnational Corporation of Nigeria Plc and Zenith Bank Plc.

Forte Oil Plc led the gainers, rising by five per cent or N11.19 to close at N235.18 per share.

It was followed by eTranzact Plc and Eterna Plc, which gained 4.98 per cent and 3.67 per cent to close at N2.32 and N3.11 per share, respectively.

Dangote Flour Mills Plc was the biggest loser for the day. It fell by 9.59 per cent or 54 kobo to close at N5.09 per share.

PZ Cussons Nigeria Plc was down by 5.96 per cent or N1.90 to close at N29.99 per share, while Portland Paints and Products Plc and Champion Breweries Plc declined by 4.96 per cent and 4.93 per cent to close at N4.79 and N8.49 per share.

 

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