Don't Miss


Home   >   Nigerian Stock Exchange   >   Stocks: Investors lose N426bn in one session

Stocks: Investors lose N426bn in one session

By on June 2, 2016

Equity investors in the country’s capital market lost over N426bn in just one session of trading after activities resumed on the floor of the Nigerian Stock Exchange on Tuesday.

The NSE market capitalisation declined to N9.5tn from N9.926tn, while the All-Share Index also fell from 28,902.25 basis points to 27,663.16 basis points.

A total of 335.057 million shares worth N3.145bn exchanged hands in 4,301 deals.

The market recorded a total of 39 losers, while only nine stocks appreciated in value.

Zenith Bank Plc, Ecobank Transnational Incorporated Plc, FBN Holdings Plc, Lafarge Africa Plc and United Bank for Africa were the top five losers.

The shares of Zenith Bank depreciated by N1.60 (9.65 per cent) to close at N14.96 from N16.58, while those of Ecobank shed N1.73 (9.58 per cent) to close at N16.32 from N18.05.

FBN Holdings share price also fell to N3.95 from N4.36, losing N0.41 (9.40 per cent), while that of WAPCO closed at N76.57 from N83.01, losing N6.44 (7.76 per cent).

UBA shares recorded a fall of N0.29 (5.75 per cent) to close at N4.75 from N5.04.

Other losers were Guaranty Trust Bank Plc, Tiger Branded Consumer Goods Plc, Stanbic IBTC Holdings Plc, Forte Oil Plc, Guinness Nigeria Plc, Fidelity bank Plc, UACN Plc, Eterna Plc, AIICO Insurance Plc, Nigerian Breweries Plc, Oando Plc, Access bank Plc, Honeywell Flour Mill Plc, Pharma-Deko Plc, Africa Prudential Registrars Plc, Flour Mills Nigeria Plc, UAC Property Development Company Plc, among others.

On the other hand, Trans-National Express Plc, ETranzact International Plc, University Press Plc, Continental Reinsurance Plc and Learn Africa Plc topped the gainers’ table.

Trans-National Express shares appreciated by N0.14 (9.21 per cent) to close at N1.66 from N1.52, while those of Etranzact gained N0.45 (8.98 per cent) to close at N5.46 from N5.01.

The UPL shares also recorded a gain of N0.22 (4.98 per cent) to close at N4.62 from N4.42, while those of Continental Reinsurance gained N0.05 (4.55 per cent) to close at N1.15 from N1.10.

Other gainers were May & Baker Nigeria Plc, Glaxo Smithkline Consumer Nigeria Plc, Unity Bank Plc and Unilever Nigeria Plc.

Following the gains of the past week, the Nigerian bourse opened the week in negative territory amid profit taking across all major sectors.

The NSE ASI and NSE 30 lost 426 basis points and 453 basis points, putting the year-to-date returns at -3.39 per cent and -4.19 per cent, respectively.

 

[Punch]