Forte Oil, Conoil, Cadbury, Drive Stock Market Loss

Share prices decline recorded yesterday by Forte Oil, Conoil and Cadbury among others led to 0.30 per cent loss in the stock market.

The NSE All-Share Index depreciated by 120.85 points or 0.30 per cent to close at 40,648.15 as against the 40,769.00 achieved on Monday.

Similarly, market capitalisation went down by N40 billion to close at N13.422 trillion from the N13.462 trillion posted on Monday.

Forte Oil led the losers’ chart by N2.82 to close at N221 per share. Conoil lost N2.65 to close at N50.51 while Cadbury shed N2.51 to close at N52.50 per share. Flourmill lost N1.70 to close at N62.0 while Nigerian Breweries dropped by N1.13 to close at N175 per share.

Conversely, Okomu Oil recorded the highest price gain of 73 kobo to close at N33.98 per share. It was trailed by Julius Berger gaining 55 kobo to close at N19.40, while Champion appreciated by 41 kobo to close at N8.70 per share.

International Breweries and Portland Paints chalked up 25 kobo each to close at N28.41 and N5.34 per share respectively.

In all, investors bought 519.12 million shares valued at N4.21 billion in 4,573 deals as against 47.74 billion shares valued at N2.8 billion traded in 4,084 deals on Monday.

Diamond Bank emerged the most traded equity, accounted for 293.96 million shares valued at N1.91 billion.

Aiico Insurance came second with 71.22 million shares worth N63.25 million, while Transcorp accounted for 28.19 million shares valued N165.84 million. FBN Holdings traded 14.4 million shares worth 209.44 million, while Zenith Bank exchanged 11.07 million shares valued at N268.48 million.

Meanwhile, The NSE has announced that its 53rd annual general meeting would hold on September 24, 2014 on the stock exchange building, Lagos.


Source : Leadership

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