Investment in the Nigerian Stock Exchange yesterday continued in
downward trend, deprecoating by N220 billion.
Specifically, market capitalisation of listed equities declined by
1.89 per cent to N11.394 trillion from N11.614 trillion reported on
Wednesday.
The NSE All Share Index dropped also by 588.14 basis points to
30557.20 points from 31145.34 points traded the previous day.
Investors traded 349.307 million shares valued at N3.491 billion in
4228 deals against 249.537 million shares cost N3.122 billion
exchanged hands in 4018 deals.
Capital operators attributed depreciation in the prices of shares to
profit taking and political uncertainty. They said with withdrawal of
foreign investors from the market it will take a longer time for the
stocks to take positive direction, stressing that a lot of investors
are waiting to see the outcome of the Nigerian general election.
Operators also said that person declared winner of the presidential
election would determined the direction of every sector of the economy
including capital market.
An analysis of the transactions indicated that Vitafoam Plc led
gainers table during the day, gaining N0.30 kobo to close at N4.80
kobo, Cap Plc followed with a gain of N0.25 kobo to close at N31.75
kobo.
LearnAfrics appreciated by N0.11 kobo to close at N1.37 kobo, Union
Bank of Nigeria added N0.05 kobo to close at N6.25 kobo, Sterling Bank
Plc increased by N0.04 kobo to close at N2.39 kobo.
Dangote Cement industry Plc recorded the highest loss during the day,
dropping by N4.00 to close at N190.00, Nigerian Breweries trailed with
a loss of N4.00 to close at N74.00, Julius Berger dropped by N2.00 to
close at N26.00, Stanbic IBTC depreciated by N1.80 kobo to close at
N45.20 kobo, Unilever Nigeria Plc went down by N1.55 kobo to close at
N35.00
The trading result however showed that United Bank for Africa was the
investors delight, exchanging 123.709 million shares worth N859.280
million, Transnational Corporation of Nigeria followed with account of
33.207 million shares valued at N41.517 million, Custodian and
investment Plc traded 32.907 million shares valued at N204.029
million, Zenith Bank Plc exchanged 27.599 million shares worth
N633.293 million, FBNHoldings traded 19.825 million shares worth
N145.799 million.
