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Stock market takes further beating

By on July 11, 2015

The Nigerian Stock Exchange All-Share Index extended its losses on Thursday on the back of losses by 33 stocks.

Specifically, the NSE ASI declined by 263.5 basis points from 32,031.73 basis points to 31,768.23 basis points.

The losses also caused the market capitalisation of the listed equities to dip by N90bn or 0.8 per cent to close at N10.844tn, down from N10.934t non Wednesday.

All the nine other indices also depreciated, with the NSE 30 Index, which involves the 30 most capitalised stocks on the floor of the NSE, falling the most from 1,462.77 basis points to 1,447.90 basis points.

Costain West Africa Plc, which led Thursday’s losers, fell by five per cent to close at N0.76 per share.

It was followed by Flour Mills Nigeria Plc and Forte Oil, which shed five per cent each to close at N32.30 and N185.24 per share, respectively.

Guinness Nigeria Plc was also down by five per cent or N7.31 to close at N138.93 per share, while Access Bank Plc declined by 4.95 per cent or 27 kobo to close at N5.18 per share.

Among the key losers were Transnational Corporation of Nigeria Plc, Unity Bank Plc, Diamond bank Plc and FCMB Group Plc.

Sixteen stocks recorded price appreciation on Thursday, but were unable to prevent the equities segment of the NSE from closing lower.

The gainers were led by Ikeja Hotel Plc, which was up by 7.05 per cent or 27 kobo to close at N4.10 per share.

In all, 222.059 million shares worth N4.250bn were traded in 3,712 deals on Thursday.

 

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