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Index drops by 1.02%, 31 firms lose

By on July 6, 2016

The Nigerian Stock Exchange market capitalisation has dropped again from the N10tn mark as the prices of 31 stocks plummeted causing the NSE All-Share Index to drop by 1.02 per cent.

The market recorded a loss of N104bn in its market capitalisation as Skye Bank Plc, Honeywell Flour Mill Plc, Guinness Nigeria Plc, FBN Holdings Plc and Forte Oil Plc emerged as the top five losers after the close of trading on the Exchange’s floor on Monday.

Only 10 stocks appreciated as the market capitalisation closed at N9.960tn from N10.064tn, while the All-Share Index fell to 29,002.06 basis points from 29,305.40 basis points.

A total of 142.836 million shares worth N1.349bn were traded in 3,321 deals.

The highest index points recorded in the course of trading was 29,812.91 basis points, while the lowest and average index points were 29,002.06 and 29,458.68 basis points, respectively.

Skye Bank shares shed N0.10 (9.52 per cent) to close at N0.95 from N1.05, as Honeywell Flour Mills recorded a loss of N0.10 (6.21 per cent) on its share price to close at N1.51 from N1.61.

The share price of Guinness Plc also fell by N5.47 (5.21 per cent) to close at N99.50 from N104.97, as FBN Holdings’ shares plummeted by N0.20 (5.13 per cent) to close at N3.70 from N3.90.

Forte Oil also recorded a decline of N9.51 (five per cent) on its share price to close at N180.83 from N190.34.

Other losers were Vitafoam Nigeria Plc, Axa Mansard Insurance Plc, Fidelity Bank Plc, Total Nigeria Plc, Livestock Feeds Plc, Stanbic IBTC Holdings Plc, Lafarge Africa Plc, Fidson Healthcare Plc, CVadbury Nigeria Plc, Trans-national Express Plc, Custodian and Allied Plc, Diamond Bank Plc, Zenith Bank Plc, Okomu Oil Palm Plc, Flour mills Nigeria Plc and United Capital Plc, among others.

On the other hand, Oando Plc, Van Leer Containers Nigeria Plc, Red Star Express Plc, Continental Reinsurance Nigeria Plc and DN Meyer Nigeria Plc emerged as the top five gainers.

Other gainers were NPF Microfinance Bank Plc, Unity Bank Plc, May & Baker Nigeria Plc, Africa Prudential Registrars Plc and United Bank of Africa Plc.

The share price of Oando appreciated by N0.68 (10.16 per cent) to close at N7.37 from N6.69, while that of Van Leer closed at N9.69 from N9.23, gaining N0.46 (4.98 per cent).

 

[Punch]