Author Topic: Equities Relapse With N136b Loss  (Read 117 times)

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Equities Relapse With N136b Loss
« on: December 14, 2017, 07:48:21 AM »
After a breather of a marginal recovery of N3 billion on Tuesday, Nigerian equities suffered a major relapse yesterday as investors continued with the rush to monetise recent capital gains and rebalance their portfolios.

With 26 losers  to 19 gainers and a considerable slowdown in the momentum of activities, quoted equities on the Nigerian Stock Exchange (NSE) closed yesterday with an average decline of 1.0 per cent, equivalent to a net capital loss of N136 billion. The decline depressed the average year-to-date return for Nigerian equities to 43.39 per cent.

The All Share Index (ASI)-the benchmark index at the Exchange dropped from its opening index of 38, 924.63 points to close at 38,534.64 points. Aggregate market value of all quoted equities also declined correspondingly from its opening value of N13.556 trillion to close at N13.420 trillion.

All sectoral indices at the Exchange also closed negative with the exception of the NSE Oil & Gas Index which recorded a marginal gain of 0.1 per cent. The NSE Banking Index declined by 2.2 per cent. The NSE Industrial Goods Index dropped by 1.7 per cent. The NSE Consumer Goods Index slipped by 0.5 per cent while the NSE Insurance Index dropped by 0.1 per cent.

Nigerian Breweries-Nigeria?s largest brewer and second most capitalised quoted company led the laggards with a drop of N3.67 to close at N139.65. Presco followed with a drop of N3.41 to close at N65. Guaranty Trust Bank and Lafarge Africa declined by N2 each to close at N39.90 and N45 respectively. Dangote Cement dropped by N1.12 to close at N239.88 while Zenith Bank lost N1 to close at N25 per share.

Total turnover slowed down to 323.95 million shares valued at N4.40 billion in 5,168 deals. Sterling Bank was the most active stock with 43.62 million shares valued at N43.52 million. Diamond Bank followed with 36.96 million shares valued at N55.49 million shares while FBN Holdings placed third with 33.03 million shares worth N303.22 million.

On the positive side, Nestle Nigeria further consolidated its lead as Nigeria?s highest-priced stock with a gain of N2.40 to close at all-time high of N1,462.50. 11-formerly known as Mobil Oil Nigeria, followed with a gain of N1.50 to close at N170. Guinness Nigeria rose by N1.15 to close at N95.20. Ecobank Transnational Incorporated added 69 kobo to close at N17.95. Dangote Flour Mills rose by  59 kobo to close at N12.59 while Nascon Allied Industries chalked up 50 kobo to close at N20 per share.


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Equities Relapse With N136b Loss
« on: December 14, 2017, 07:48:21 AM »

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