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29 stocks decline as market slide continues

By on December 6, 2014

The equities segment of the Nigerian Stock Exchange closed on a negative note on Thursday with 29 stocks recording price depreciation.

Presco Plc topped the price losers with a 4.99 per cent or N1.49 decline to close at N28.24 per share.

It was followed by the National Salt Company of Nigerian and Champion Breweries, which fell by 4.96 and 4.95 per cent to close at N7.48 and N9.40 per share, respectively.

Dangote Flour Mills Plc and Premier Breweries Plc were also among the losers. They were down by 4.90 per cent and 4.77 per cent to close at N5.63 and N3.79 per share in that order.

Top stocks, which declined on Thursday include Guaranty Trust Bank Plc (-3.75 per cent), Oando Plc (-3.00 per cent), Access Bank Plc (-3.38 per cent) and United Bank for Africa (-1.80 per cent).

Others are FBN Holdings Plc (-0.66 per cent), PZ Cussons Nigeria Plc (-0.25 per cent) and Mobil Nigeria Plc (-0.12 per cent).

Twenty-four equities, however, recorded price appreciation on Thursday.

The gainers were led by Ashaka Cement Plc, which gained 10.22 per cent or N2.28 to close at N24.58 per share.

ABC Transport Plc, Ikeja Hotel Plc and UBA Capital Plc rose by five per cent each to close at 63 kobo, N3.99 and N1.68 per share, respectively.

Despite the gains, the market capitalistion of the listed equities on the NSE fell by N27bn or 0.24 per cent to close at N10.952tn. It was the fifth time in a row that the market cap would decline after appreciating from Tuesday to Thursday last week.

Similarly, the NSE All Share Index shed 0.24 per cent or 79.89 basis points to close at 33,175.78 basis points as against a 0.87 per cent drop, which caused it to close at 33,255.67 basis points the previous day.

A total of 541.493 million shares valued at N7.686bn were traded in 4,198 deals compared with the 258.750 million stocks worth N4.788bn that were traded in 3,965 deals the previous day.

The banking sub-sector dominated the activity chart, accounting for 56 per cent of total turnover traded.

In the sub-sector, 303.750 million shares worth N5.132bn were exchanged by investors in 1,514 deals.

Volume in the sub-sector was driven by trading in the shares of Ecobank Transnational Incorporated and Guaranty Trust Bank.

 

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