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Market returns to losses as 24 stocks depreciate

By on July 2, 2016

The Nigerian Stock Exchange market capitalisation receded by N74bn after 24 stocks depreciated in value at the close of trading on the NSE floor on Thursday.

The NSE All-Share Index fell to 29,597.79 basis points from 29,812.91 basis points, while market capitalisation also dropped to N10.165tn from N10.239tn.

Trans-nationwide Express Limited, Champion Breweries Plc, Portland Paints and Products Plc, AG Leventis Nigeria Plc and Law Union and Rocks Insurance Plc led the losers’ chart.

An aggregate of 342.604 million shares value at N4.651bn were traded in 4,079 deals.

Trans-nationwide Express shares slid to N1.34 from N1.41, depreciating by N0.07 (4.96 per cent), as those of Champion Breweries posted a loss of N0.21 (4.71 per cent) to close at N4.25 from N4.46.

Similarly, the share price of Portland Paints and Products plummeted by N0.09 (4.69 per cent) to close at N1.83 from N1.92.

Other losers were Skye Bank Plc, UAC Property Development Company Plc, Honeywell Flour Mills Plc, Ecobank Transnational Incorporated Plc, FCMB Group Plc, Seplat Petroleum Development Company Limited, FBN Holdings Plc, United Bank for Africa Plc, Forte Oil Plc, Nigerian Breweries Plc, Zenith bank Plc, Tiger Branded Consumer Goods Plc, Dangote Cement Plc, among others.

 

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