NSE Market Cap Shed N162.2bn As Seplat, NB Lead Losers

NSE, Investors

Trading on the floor of The Nigerian Stock Exchange (NSE) continued its downward movement yesterday when the All-share Index and Market Capitalisation depreciated by 1.09 per cent each.

Seplat Petroleum Development Company, Guinness Nigeria, and the Nigerian Breweries depreciated significantly by 7.05 per cent, 4.99 per cent and 1.86 per cent respectively.

The All-Share index depreciated by 347.6 bases points to close at 32,410.20 points from 32,769.80 points it closed on Monday, while Market Capitalisation went down by N162.2 million, to close at N11.170 trillion from N11.332 trillion it closed on the previous day.

Seplat led decliners’ lane when it depreciated by 495 kobo to close at N460.05 per share, followed by Guinness Nigeria, which slipped by 339 kobo to close at N64.54 per share, Nigerian Breweries dropped 300 kobo to close at N158.05 per share, Conoil lost 211 kobo to close at N40.23 per share, while Julius Berger depreciated by 178 kobo to close at N33.83 per share, among others.

On the other hand, Red Star Express led the gainers’ table when it added by 49 kobo to close at N5.32 per share, followed by Northern Nigeria Flour Mills, which added 22 kobo to close at N5.7 per share, Honey Flour raked in 19 kobo to close at N2.12 per share, UAC Properties grabbed 10 kobo to close at N2.8 per share, while African Prudential Registrars recorded 06 kobo to close at N2.98 per share, among others.

Sector performance was bearish as all indices closed in the red save for the industrial goods index, which marginally added one basis point due to gains in First Aluminum (+3.5 per cent).

The banking index depreciated the most, down 2.3 per cent as investors continue to take profit in Tier-1 and Tier-2 lenders.

The consumer goods index followed suit, losing 1.2 per cent due to declines in Nigerian Breweries  (-1.9 per cent) and Guinness (-4.9 per cent).

 

 

Source : Independent

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