Nes­tle, Guin­ness, oth­ers lead N124b stock mar­ket losses

The Guardian (Nigeria) - - BUSINESS - By He­len Oji

FOL­LOW­ING heavy price losses suf­fered by vir­tu­ally all the highly cap­i­talised stocks, es­pe­cially Nes­tle, and Guin­ness, eq­uity trans­ac­tions on the Nige­rian Stock Ex­change closed on a down­turn yes­ter­day, as mar­ket cap­i­tal­i­sa­tion de­pre­ci­ated sig­nif­i­cantly by N124­bil­lion.

Yes­ter­day, 32 stocks de­pre­ci­ated in price, as Nes­tle led the losers’ chart with 40.00 kobo to close at N1,250.00 per share, while Guin­ness fol­lowed with 2.01 kobo to close at N100.00 per share.

Unilever shed 2.00 kobo to close at N38.00 per share. WAPCO and Dan­gote Ce­ment dropped 1.45 kobo to close at N50.00 and N236.55 per share re­spec­tively. Zenith Bank de­pre­ci­ated by 1.16 kobo to close at N23.68 per share.

PZ Cus­sons shed 0.60 kobo to close at N22.40 per share. Cad­bury lost 0.53 kobo to close at N11.78 per share. Dan­gote Flour dropped 0.30 kobo to close at N9.15 per share. Eterna Oil also shed 0.20 kobo to close at N3.99 per share.

On the other hand, Flour Mills topped the gain­ers’ chart with 0.89 kobo to close at N34.89 per share, while Nige­rian Brew­eries fol­lowed with 0.77 kobo to close at N139.75 per share.

Forte Oil gained 0.65 kobo to close at N48.62 per share. Okomu Oil gar­nered 0.21 kobo to close at N68.20 per share. Nige­rian Avi­a­tion Han­dling Com­pany ap­pre­ci­ated by 0.17 kobo to close at N3.72 per share.

Vitafoam added 0.14 kobo to close at N2.95 per share. Fid­son gained 0.13 kobo to close at N3.90 per share. Med­view Air added 0.07 kobo to close at N1.66 per share. NEM also gained 0.06 kobo to close at N1.47 per share.

Con­se­quently, the All-share in­dex which opened at 37,312.28 lost 358.87 points or 0.96 per cent to close at 36,953.41.

Sim­i­larly, the mar­ket cap­i­tal­i­sa­tion shed N124­bil­lion or 0.96 per cent to close at N12.789tril­lion against N12.913tril­lion.

Also, the vol­ume of shares traded dropped by 29.13 per share with an ex­change of 238.36 mil­lion shares val­ued at N3.42bil­lion achieved in 4,238 deals.

This was in con­trast with 336.34 mil­lion shares worth N30.02bil­lion trans­acted in 3,778 deals on Mon­day.

FBN Hold­ings was the most ac­tive stock for the day, trad­ing 75.80 mil­lion shares worth N541.28mil­lion.

Di­rec­tor, Africa Pru­den­tial Plc, Ha­jia Am­muna Lawan (left); Man­ag­ing Di­rec­tor/ceo, Africa Pru­den­tial Plc, Peter Ashade; Pres­i­dent, La­gos State Co-op­er­a­tive Fed­er­a­tion, Dr (Mrs) Silfa Chiyoge; Chair­man, Africa Pru­den­tial Plc , Chief (Mrs) Eniola...

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