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7-UP, Honeywell, Sterling Bank lead N46bn market loss

By on March 16, 2016

The 7-UP Bottling Company Plc, Honeywell Flour Mill Plc and Sterling bank Plc topped the losers’ table at the close of trading on the floor of the Nigerian Stock Exchange on Monday.

The NSE market capitalisation dropped to N8.893tn from N8.939tn, while the All-Share Index also plunged to 25,853.58 basis points from 25,988.40 basis points. This represents a one-day loss of N46bn.

Next in the top five losers category were Union Bank Nigeria Plc and Unity Bank Plc.

A total of 174.501 shares worth N1.406bn exchanged hands in 3,632 deals.

The 7-UP shares closed at N153.43 from N161.50, losing N8.07 (five per cent), while those of Honeywell Flour  lost N0.09 (five per cent) to close at N1.71 from N1.80.

Sterling Bank shares also depreciated by N0.08 (4.71 per cent) to close at N1.62 from N1.70.

The shares of Union Bank went down by N0.28 (4.68 per cent) to close at N5.70 from N5.98, while those of Unity Bank closed at N0.67 from N0.70 losing N0.03 (4.29 per cent).

Other losers on Monday were United Capital Plc, May & Baker Nigeria Plc, Flour Mills Nigeria Plc, Nigerian Breweries Plc, AxaMansard Insurance plc, Diamond Bank Plc, Transnational Corporation of Nigeria Plc, Wema Bank Plc, Fidson Healthcare Plc, Lafarge Africa Plc, Stanbic IBTC Holdings Plc, Fidelity Bank Plc, Nigerian Aviation Handling Company Plc and Dangote Cement Plc.

United Bank for Africa Plc, Oando Plc, Guinness Nigeria Plc and Unilever Nigeria Plc also appeared on the losers’ table.

A total of 16 firms featured on the gainers’ chart with Conoil Plc, Tiger Branded Consumer Goods Plc, UACN Plc, Nascon Allied Industries Plc and FCMB Group Plc leading.

Other losers were Zenith Bank Plc, Neimeth International Pharmaceutical Plc, Livestock Feeds Plc, Champion Breweries Plc, Academy Press Plc, FBN Holdings Plc, Guaranty Trust Bank Plc, Access Bank Plc, Skye Bank Plc, Seplat Petroleum Development Company Limited and Ecobank Transnational Corporation.

Conoil shares closed at N18.24 from N16.56, gaining N1.68 (10.14 per cent, while those of Tiger Branded Consumer Goods  also appreciated by N0.27 (9.85 per cent) to close at N3.01 from N2.74.

UACN share price rose to N20.95 from N19.96, gaining N0.99 (4.96 per cent), while that of Nascon appreciated by N0.37 (4.93 per cent) to close at N7.87 from N7.50.

FCMB shares also appreciated by N0.04 (4.88 per cent) to close at N0.86 from N0.82.

 

[Punch]