Stock Market Sheds N49bn to close at N8.742trillion from N8.791trillion previous

Kindly Share This Story:


The Trading Floor of The Nigerian Stock Exchange 

The trading activities on the floor of Nigerian Stock Exchange yesterday when Global Money Week event was going on market shedded N49 billion on the market cap. Market Capitalisation -cap- is the window through which every Stock Exchange around the globe measures their trading activities of listed equities. The market cap declined by 0.56 per cent to closed at N8.742 trillion from N8.791 trillion traded of the previous day which accounts for 0.049trillion.

The NSE All Share Index declined by 139.04 basis points to closed at 25267.68 points from 25406 .72 recorded the previous day. Investors exchange hand stood at 771.658 million shares valued at N2.615 billion in 2703 deals against 916.261 million shares cost N2.412 billion exchanged hands in 3342 deals.

The top ten gainers chart showed Total Nigeria Plc led the table growing by N9.98 kobo to close at N269.98 kobo, Forte Oil followed with a gain of N2.00 to close at N47.00, Guinness Nigeria Plc appreciated by N0.73 kobo to close at N68.80 kobo. TransHotel gained N0.46kobo to close at N5.04kobo and UAC of Nigeria increased by N0.31 kobo to close at N13.30 kobo.

On the top ten lossers, ushered in with Mobil Oil which recorded the highest loss for the day shedded N2.25 kobo to close at N295.00, Unilever Nigeria Plc trailed behind with a loss of N1.90 kobo to close at N32.00 , Oando Plc down by N0. 25 kobo to close at N4.83 kobo Custodian and Allied Insurance declined by N0.15 kobo to close at N3.21 kobo while FCMB group depreciated by N0.08 kobo to close at N1.17 kobo.

Further analysis showed the Custodian and Allied Insurance top the chart with 284.538 million shares traded worth N954.878 million, Continental Reinsurance followed with account of 250.712 million shares cost N413.250 million, Diamond Bank traded 127.278 million shares valued at N105.246 million, United Bank for Africa sold 21.572 million shares worth N120 659 million and FBNHoldings exchanged 12.565 million shares valued at N38.610 million.

The weekly trading activities chart from Monday through to Friday disclosed a total turnover of 3.195 billion shares worth N104.217 billion in 14,674 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.309 billion shares valued at N10.323 billion that exchanged hands last week in 13,042 deals.

The Financial Services Industry (measured by volume) led the activity chart with 2.784 billion shares valued at N7.932 billion traded in 9,129 deals; thus contributing 87.12% and 7.61% to the total equity turnover volume and value respectively. The Oil and Gas Industry followed with 233.982 million shares worth N92.545 billion in 1,410 deals. while the third place went to Consumer Goods Industry with a turnover of 80.623 million shares worth N1.957 billion in 2,138 deals.

Trading in the Top Three Equities led by Niger Insurance Co. Plc, Standard Trust Assurance Plc and Continental Reinsurance Plc (measured by volume) accounted for 1.523 billion shares worth N1.145 billion in 76 deals, contributing 47.68% and 1.10% to the total equity turnover volume and value respectively.

All other Indices finished higher during the week with the exception of the NSE Banking and NSE Insurance Indices that depreciated by 1.00% and 0.75% respectively

while Stock Market prices are plumbing in their millions, money market on other hand is wobbling and fumbling with declined in both price and reserve. Despite over subscribed of Nigeria Euro bonds and other foreign promo by top government functionery, our markets which is internally spirit are speaking with agried voice.

Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

%d bloggers like this: