WEDNESDAY, 02 FEBRUARY 2011 BY HELEN ORJ
TRANSACTIONS on the floor of the Nigerian Stock Exchange (NSE), yesterday, sustained downward trend, as more highly capitalised companies continued to suffer price depreciation, resulting to a further slide in market capitalisation by N30 billion.
A review of trading yesterday showed that 16 companies appreciated in price, compared with 39 that suffered depreciation.
Consequently, the All-Share Index dropped by 107.18 basis points or 0.39 per cent from 26,830.67 recorded on Monday to 26,723.49, while market capitalisation fell by N30 billion from N8.575 trillion to N8.541 trillion.
On the gainers chart, Airservice led others with 4.98 per cent, while Neimeth Plc followed with 4.96 per cent per share.
Afromedia featured with 4.84 per cent per share, while Guaranty Trust Bank garnered 4.42 per cent per share, while Dangote Flourmill rose by 4.13 per cent in the day’s transaction.
However, Royalex Plc led the losers’ table with 5.00 per cent per share, while UBA Plc followed with 4.98 per cent per share.
African Petroleum, Presco Plc, Dangote Sugar Plc lost by 4.96 per cent, 4.94 per cent and 4.94 per cent respectively.
Other losers of yesterday’s transactions includes Nigerian Bags Manufacturing, Nigerian Breweries, Unity Bank, shedding 4.93percent, 4.88percent and 4.88 per cent to close at N3.28, N78.00 and N1.56 per share.
The banking sub-sector remained the most active stock in volume terms with 242.4 million shares worth N2.104 billion, while the insurance sub-sector trailed with 27.1 million units worth N47 million.
The food/beverages and tobacco sub-sector ranked third with 14.8 million shares worth N573.9 million.
Transactions in the shares of Guaranty Trust Bank boosted activities in the banking sub-sector with 29.9 million shares worth N575.8 million, while Zenith Bank followed with 29.9 million units worth N454 million.
The insurance sub-sector was buoyed by activities in 9.7 million shares of Custodian Insurance worth N31.4 million.
On the whole, investors exchanged 330.4 million shares valued at N3.28 billion in 6,349 deals.
Source: Guardian
